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South Africa: the UK invests in a battery storage project

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October 2018
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Monday, 08 October 2018

South Africa: the UK invests in a battery storage project

Theresa May has revealed that the UK Government will invest £56m into a South African battery storage project to help the nation bolster its renewable power generation output. The contribution will be made to the $500m (£384m) Clean Technology Fund - a joint project from the World Bank, African Development Bank and South African Government, which aims to fast-track the region’s access to clean energy technologies. In a statement released on Wednesday (29 August), Business, Energy and Industrial Strategy (BEIS) said the scheme would “transform” South Africa’s energy system, bringing about a “climate revolution” as well as an economic boost for the nation. Business Secretary Greg Clark said the UK Government’s move to invest in battery storage technology overseas mirrors the aims of its Industrial Strategy, which lists clean growth as one of the nation’s four ‘Grand Challenges’. “Investing in research, developing the skills of tomorrow, and tackling the global threat of climate change are key commitments of this Government and are at the core of our modern Industrial Strategy,” Clark said. “Science and innovation has no borders, with many of the best discoveries being international partnerships and collaborations. These initiatives will deepen our ties in these important areas with our African partners for years to come.” During her three-day trip to Africa, the PM also unveiled a separate plan for a UK-Africa research collaboration focused on clean energy innovations, artificial intelligence (AI) and big data. The announcements come just days after the South African Government released its long-awaited plan for power sector spending, which proposes the installation of 15GW of renewables projects by 2030. The strategy also outlines plans for no new nuclear capacity, 1GW of coal capacity and 8.1GW of natural gas capacity to be installed within the same timeframe.

Source: edie.net