PIC to Grow Green Energy: $854m and Beyond

• The PIC, Africa's top asset manager, is investing in renewable energy sources to tackle South Africa's power crisis. Their current investments have already produced 2000 megawatts for the grid, and they have invested 310 million rand in Rifuwo Energy Partners. The PIC is also looking into solar panels on property roofs to provide further renewable energy solutions.

The Public Investment Corporation, Africa's top asset manager, is planning to increase its investment in renewable energy sources. The move comes as South Africa battles a power crisis caused by ailing coal power plants resulting in severe power rationing. The PIC currently has investments in renewable energy that have contributed over 2,000 megawatts to the grid. It has also recently invested 310 million rand in Rifuwo Energy Partners on behalf of the Government Employees Pension Fund. The PIC is looking into using solar panels on the roofs of properties to provide further renewable energy.

Will PIC Increase Renewable Energy Investment?

• The PIC is aiming to create a more diverse energy portfolio as they look to decrease reliance on coal and increase renewable energy sources.
• The PIC will look into a wide range of renewable energy sources in order to diversify their portfolio, including solar, wind, and hydro power.
• In order to ensure energy security, the PIC is looking to invest in large-scale renewable energy projects and decentralized, rooftop solar projects.
• The PIC is also looking to create more jobs in the renewable energy sector, which will stimulate the local economy.
• The PIC plans to work with local governments to improve infrastructure and access to renewable energy sources.
• The PIC hopes that their increased investment in renewable energy sources will help reduce South Africa’s carbon emissions.