Young South Africans invest in renewable energy sector

Young South Africans invest in renewable energy sector

Renewable energy is energy derived from natural sources that regenerates itself at a rate higher than consumption. For example, sunlight and wind are constantly renewed sources.

Fumani Mthembi, who runs a renewable energy generation company in South Africa, has no regrets about leaving her steady job in the midst of an economic downturn to start her own business this year. 2009.

Mthembi and four of his friends, then in their thirties, left the banking industry to start a development project to help disadvantaged youth in the country. However, they were forced to change their plans when it was difficult to raise funds to run the program. They chose renewable energy.

In an interview with Africa Renewal, Mthembi, the only woman among the five founders (the others are Gqi Raoleka, Obakeng Moloabi, Boipelo Moloabi and Thapelo Motlogeloa), said that while they struggled to keep it With his dream alive with the young people’s project, another opportunity arose, which led to the founding of Pele Energy Corporation (PEG) in 2009, headquartered in Sandton, Johannesburg.

The South African Department of Energy is looking for independent electricity producers for renewable energy. Companies must meet a number of criteria to be considered. First, they must have the financial strength and expertise to run the business, and must have a strong social development strategy for the communities where they will build the power plants. The company’s funding plan and technical expertise in power generation are also important. The Department also sought technical expertise and has therefore worked with independent power producers that possess this expertise.

“It was really an opportunity for us because we have the skills that we acquired during our banking days, allowing us to understand what the Department of Energy is about,” said Mthembi. request.