Solar MD has inaugurated Africa’s first gigawatt energy storage factory, capable of producing 3GWh annually. Located in Cape Town’s Richmond Park, the 15,000-square-meter facility began operations in July and was officially opened on Saturday, 30 November 2024.
Solar MD CEO and founder Kaloyan Dimov said, “Since 2014, we’ve had this vision to provide power for Africa with a product that empowers the community.”
The state-of-the-art factory is four times larger than Solar MD’s previous site in Montague Gardens. It produces 300 batteries daily, compared to 120 before.
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Boost to Cape Town’s Green Economy
Western Cape Minister of Agriculture, Economic Development, and Tourism Ivan Meyer praised the investment. He said, “Energy security is a critical enabler of our Growth for Jobs strategy and our goal of creating an R1 trillion economy by 2025.”
Meyer added, “We aim to grow private sector investment to 20% of the regional GDP. This translates to R200 billion by 2035.”
Cape Town MMC for Economic Growth James Vos attended the ceremony. “This factory is a testament to visionary leadership and partnership in advancing our green economy,” he said.
Vos also attended the groundbreaking event in August 2023. He said, “It’s rewarding to witness the transformation of this project and its role in Cape Town’s rise as a hub for renewable energy.”
Exporting Energy to Africa and Europe
The factory positions Cape Town as a leader in renewable energy. Vos highlighted its significance: “This investment fuels Cape Town’s drive towards a smarter, cleaner, and more secure energy future.”
The batteries produced at the new plant will serve African and European markets, boosting Cape Town’s role in global energy solutions.