Yesterday I delivered a talk at a workshop of the Development Finance Institutions from Southern Africa, convened by the Chief Executive of the Development Bank of Southern Africa. I used the opportunity to reflect on and integrate two recent pieces of research – one by Lucy Baker from the UK and the other by Paul Gauche from the Centre for Renewable and Sustainable Energy Studies here at Stellenbosch University. The group responded well to questions about the financialisation of the debt and equity capital that has triggered South Africa’s remarkable boom in renewables, despite the fact that government is more interested in coal, nuclear and fracking. However, none of the DFIs had ready answers to the problem of a disconnect emerging between the eventual owners of the debt and equity and the projects on the ground, but more importantly the inherent risks of a speculative bubble which if it bursts will really harm the sector before it can get strong enough. For the talk go to the Talks drop down menu on my website for recording plus powerport, or download here just for the talk: https://soundcloud.com/user-825958953/session-1
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