RMB CEO calls for localisation rules to be waived to catalyse transition to renewables

Financial services firm RMB CEO James Formby says South Africa urgently needs a “megawatts first” policy and that localisation rules, which make renewable energy more expensive, should be waived. Local material content rules increase the cost of wind and solar energy production. Import tariffs, such as those on imported steel, are also making renewable energy more expensive.