South Africa looks to kickstart its biofuels industry
CAPE TOWN, (Reuters) - South Africa hopes to finalize its biofuels regulatory framework by March next year, the energy minister said on Monday, almost a decade after the policy to promote biofuels like ethanol and biodiesel was first approved.
A net importer of crude, Africa’s most industrialized economy wants biofuels initially to meet two percent, or about 400 million liters, of the country’s annual fuel consumption to wean itself off oil imports and improve the trade balance.
However, regulatory uncertainty centered on financial support incentives to manufacturers has choked investment since the approval of a national biofuels strategy in 2007.
“The department will be tabling this biofuel framework to the cabinet for its consideration and approval before
The framework deals with, among other things, the mandatory purchase of biofuels by licensed manufacturers and feedstock plans that do not compromise food security, said Radebe. (Reporting by Wendell Roelf, Editing by William Maclean)
Comments