Today, we received the following statement from Advasol:
01 February 2011
NEW FOCUS FOR ADVASOL
Gas exploration license application withdrawn temporarily
Cape Town, 01 February 2011: Alternative energy company Advasol is actively seeking cleaner and more efficient means of delivering energy to the SA grid – methods that do not compromise the environment or the economy. The company is currently involved in several projects including applying, through the Petroleum Association of South Africa (PASA), for an exploration license to determine whether a natural gas resource exists in the southern Cape coastal region, harnessing potential gas reserves in Mozambique and establishing Solar Energy Parks in the Northern Cape. Because the latter two energy projects are now gaining momentum, Advasol has decided to withdraw its application for an exploration license on the south Cape coast.
“Within the energy industry, we are a relatively small company”, explains Advasol director, Anton van Wyk. “Our intention still is to find the best possible solution for South Africa’s considerable energy challenges but we must consolidate that effort so that it is as effective as possible. Certain project interests have escalated and our focus now needs to shift to these projects so that they can be brought to fruition sooner – and, of course, these projects would also be very effective and responsible bridging solutions to our energy problems.”
Sustainable and responsible business is a key driver of ICE Finance, owners and investors of Advasol and Menlyn Maine. The organization is affiliated to the Clinton Foundation’s Climate Change initiative through the Menlyn Maine. While the company’s license application on the south Cape coast met with some resistance from a select few individuals in the community, who have unfortunately resorted to making inaccurate statements about the company’s activities and intentions, the majority of the community members – as well as PASA – responded favourably and positively to Advasol’s application. Advasol had completed all aspects of its application in 2010 and PASA was in the process of evaluating the application.
Anton van Wyk adds: “Although we have withdrawn our license application, we still believe opportunities for harnessing natural gas in the area exist and therefore we may reactivate our application again in the future.”
While the PR spin on this is intended to suggest a graceful exit, there can be no doubt that the resistance to this initiative played a huge role in the decision to withdraw. This is an resounding victory for all the people who devoted time and energy to fighting this potential environmental threat. Well done and thank you!!!!