Solar MD builds bigger facilities in Cape Town
Increasing customer demand has forced Solar MD - lithium-ion battery storage manufacturer - to expand its operations, with the company breaking ground for a new gigawatt battery storage plant.
An artist's impression of Solar MD's new Richmond Park property. Source: Supplied
The new 12,500m
This new site will allow for a production increase from the current 120 batteries each year to up to 300 batteries per year. Its staff component will also increase to 240 from its existing 120 employees. The project, scheduled for completion in May 2024, is being managed by Atterbury Property.
"This development marks an exciting moment for Cape Town. Not only does this investment fuel the City of Cape Town’s drive towards a smarter, cleaner and more secure energy future, but it also makes this metro the base for the production of these batteries that are exported into Africa and Europe," said Alderman Vos.
Solar MD has invested over R150m into its developments since opening in 2015 and plans to invest close to R1bn over the next five years as they expand. The company’s growth has been supported by GreenCape, the CoCT special purpose investment vehicle (SPV) in the green economy, as well as city and provincial government’s investment promotion partner, Wesgro.
derman James Vos, the Mayoral Committee Member for Economic Growth, with City officials and staff from Solar MD and Atterbury Property.
“This shows the tangible value of partnering with SPVs. In fact, by supporting companies such as Solar MD, GreenCape helped to facilitate R1.733bn in investments in the last financial year for Cape Town which led to hundreds of jobs. In the next year, we are going to expand our investment campaigns of Cape Town as a green energy hub while extending skills development opportunities to more communities and small businesses,” concluded Alderman Vos.
