Cape Town - International investment in South Africa's nascent renewable energy industry has been bolstered by the acquisition of a portfolio of 300MW wind farm plans by the British RES Group.
The amount that RES paid has not been announced.
A South African subsidiary, RES Southern Africa, was created to house the portfolio of wind farm developments, which are all in an early stage of development.
Stephen Balint, strategy and communications director of the RES Group, said in a statement that South Africa had been identified as a potential growth area for the group.
He explained that the need to meet the growing demand for electricity and limit greenhouse gas emissions means there is great potential to exploit the country's abundant wind and solar resources.
The RES Group has various projects in Europe, North America and the Asia-Pacific region. It has already developed wind energy projects generating more than 4.5GW of electricity and is involved in large-scale solar power and biomass projects.
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