Deepening renewable energy markets in South Africa: lessons for and from the Indian renewable energy market

This report, part of a series which assesses the obstacles to the flow of capital into renewable energy markets in emerging economies, investigates risks considered important by stakeholders in South Africa’s renewable energy market. It follows up a previous study, which found five types of risks prevalent in emerging economies: demand, transmission and evacuation, macro, offtaker (purchaser of RE), and political. This report also identifies opportunities for collaboration and facilitates cross-country learnings in a scenario where most countries are undergoing an energy transition, which is non-homogenous. Both India and South Africa have taken several initiatives in the last two decades to reform their energy systems. Emerging economies, however, cannot attempt to replicate the advances made in more developed economies. The report also recommends steps that would enable faster growth of the renewables market in South Africa and India.