A Good Time to Invest in Africa
A Good Time to Invest in Africa
Dynamic politics and economic growth has made the African continent an exciting part of the world to invest in. But now, Africa is drawing the attention of investors for another reason: it's vast landscapes and blistering sun makes it the perfect place to produce solar energy at a large and constant scale.
Recently, a major solar project in South Africa has been making news headlines for getting one of the biggest companies in the world to back it - Google. In May of this year, the Jasper Power Project received a reported $12 million investment from the internet giant, which is to go towards making this solar farm one of the biggest on the African continent. Upon its completion, the farm will generate enough energy to power roughly thirty thousand South African homes from its location in the Northern Cape Province.
This could not come at a better time, with South Africa's current energy giant (Eskom) facing global scrutiny over its controversial Medupi Power Plant. What is called load-shedding (the taking of turns per region to have electricity) has been a major part of life for residents of this country since 2007, and the implementation of solar energy at a large scale is comforting news.
It is a huge leap forward for the environment, for South Africa as a developing country, and for the renewable energy market. As this emerging market now expands and moves over the continent, some feel that it is the perfect time to invest in Africa - it could become the iconic home of solar energy in the future, next to China and Japan (who are also making massive forays into the renewable energy market). Should you want to invest in Africa, feel free to contact the experts at Compare The Financial Markets for information and advice.
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