Indian Energy Companies Ready to do Business in SA
The upcoming African Utility Week conference in Cape Town will offer Indian companies a large market in the energy sector, an official said this week.
The Indian Chamber of Commerce (ICC) will represent the Asian country at the May 15-15 event, hosting a pavilion of more than 45 suppliers of specialised technology and services for the energy sector.
“Indian utility vendors and services will find a huge market and scope in Africa, especially in South Africa’s energy sector” said ICC director general and CEO Rajeev Singh.
Africa could learn from the experience of the Indian utility sector, where sustained economic growth continued to drive electricity demand, he said.
“The ministry of power has set a target of 1,229.4 billion units of electricity to be generated in the financial year 2017-18, which is 50 billion units higher than the target for 2016-17,” Singh said.
“The annual growth rate in renewable energy generation has been estimated to be 27 percent and 18 percent for conventional energy. African nations can get a lot of trade benefits if they consider investing and doing business in India.”
The 18th African Utility Week will gather over 7,000 decision makers from more than 80 countries to discuss the challenges, solutions and successes in the power, energy and water sectors on the continent. (via African News Agency)