South African Business 2019 edition

INTERVIEW
get them to understand how renewable energy
could play a role in achieving government’s economic
and development objectives, ranging from
power supply at a much more affordable rate
right through to building new skills and catapulting
South Africa into a new era. We started with
that in 2001, way before the REIPPPP was even
dreamt of. We had the vision, we had the tenacity
and the wherewithal to stick it through – and
that still holds today. It’s in our pioneering DNA.
Together with others, we have been able to convince
policy-makers that renewable energy has
a fundamental role to play in reshaping the way
that we deliver and use energy.
I presume that you are pleased that there
is an Integrated Resource Plan (IRP) and
that RE is part of it?
Yes, we are pleased. Renewable energy is starting
to take its rightful place. The IRP in itself still needs
to go a long way to reflect adequately the realities
of the 4th Industrial Revolution. We think this will
happen as South Africa comes to terms with all the
demands for jobs and for economic growth. The
economic challenges that we have today need to
be reflected in the IRP. Renewables are uniquely
positioned to drive economic growth.
the needs of a local municipality and industries who
were struggling with power quality. The project was
born with the objective of strengthening the grid,
strengthening power quality and playing a major role
in economic development in the Jeffreys Bay area.
We exited the project when we sold it on at financial
close in Round One of the REIPPPP.
Where else are you active now?
We also secured two 50MW PV plants in Round One.
In Round Three we were successful with three wind
farms, all three of which are now operational and in
which we still retain a 15% shareholding. The wind
farms in the Northern Cape are Khobab, Loeriesfontein
and Noupoort. We are actively developing projects in
three Southern African countries.
Did retaining your share represent a shift in
thinking?
Genesis is a South African born and bred company.
We aim to hold on to our projects for the long term
if we can. We have a long-term vision of owning
and operating a significant portfolio of projects.
Genesis is one of the few 100% South African-owned
development companies that have been around for
some time. We believe that South Africa has wonderful
natural assets and they are under-utilised. The
country’s natural resources and its human resources
are under-utilised, and we’re finding innovative ways
to harness both to the benefit our country and its
people.
Are you interested in technologies besides
wind and solar?
We talk about hydro-marine and bio-energy because
we also have a very strong interest in the
full spectrum of renewables. It is still early days for
marine energy though it holds promise.
What underpinned the decision to develop
Jeffreys Bay and when did you exit the
project?
The team identified an opportunity for wind technology
to play a role at local scale and deliver on
31 SOUTH AFRICAN BUSINESS 2019