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The beginning of building on a facility that will likely be house to Africa’s first devoted gigawatt battery storage manufacturing plant was a landmark second, mentioned Alderman James Vos, the Metropolis’s Mayoral Committee Member for Financial Progress, on the sod-turning ceremony for Photo voltaic MD’s new industrial website in Richmond Park.
Photo voltaic MD specialises in lithium-ion battery storage designed for residential, business and utility-scale functions. With sturdy demand for his or her merchandise, the corporate discovered that it wanted a much bigger website than its present Montague Gardens workspace.
The brand new 12 500 square-metre mild industrial website will embody places of work, manufacturing and storage amenities and will likely be 4 instances the dimensions of the present facility. Photo voltaic MD presently produces round 120 batteries annually with plans to extend manufacturing as much as 300 batteries per yr as soon as the brand new facility is absolutely up and operating. Its workers part will even enhance to 240 from its present 120 workers. The undertaking, scheduled for completion in Might 2024, is being managed by Atterbury Property.
‘This improvement marks an thrilling second for Cape City. Not solely does this funding gas Cape City’s drive in direction of a better, cleaner and safer vitality future, however it additionally makes this metro the bottom for the manufacturing of those batteries which are exported into Africa and Europe,’ mentioned Alderman Vos.
Photo voltaic MD has invested over R150 million into its developments since opening in 2015 and plans to take a position near R1 billion over the subsequent 5 years as they increase. The corporate’s development has been supported by GreenCape, the Metropolis’s Particular Function Car (SPV) within the inexperienced financial system, in addition to the Metropolis and provincial authorities’s funding promotion associate, Wesgro.
‘This reveals the tangible worth of partnering with SPVs. Actually, by supporting corporations resembling Photo voltaic MD, GreenCape helped to facilitate R1,733 billion in investments within the final monetary yr for Cape City which led to tons of of jobs. Within the subsequent yr, we’re going to increase our funding campaigns of Cape City as a inexperienced vitality hub whereas extending abilities improvement alternatives to extra communities and small companies,’ mentioned Alderman Vos.
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