Resources How to Tender Tender Articles Tender Sectors Tender News

DBSA approves R10bn for renewables

The Development Bank of Southern Africa (DBSA) has approved loan facilities amounting to R9.6 billion earmarked for renewable energy projects to support the establishment of the renewable energy sector(representing 896.5 MW of the 3 725 MW national target) in South Africa. These projects form part of the 28 successful preferred bidders of the first bid window for the Renewable Independent Power Producers Programme (representing 1 416 MW of the 3 725 MW target) launched by the Department of Energy in August 2011‚ it said on Monday.

“The energy sector is faced with a number of challenges. We believe this investment in the local power generation and transmission infrastructure will stimulate the development of the green economy which is a key priority in creating jobs and growing the South African economy‚” said Group Executive for Investments at the DBSA‚ TP Nchocho. “Like all other transactions‚ these projects were subjected to the Bank’s environmental appraisal guidelines to ascertain their impact towards the environment. After a thorough environmental analysis conducted on these projects‚ we are confident that investment in the solar energy programme would have less adverse impact on climate change and the environment”‚ he added.

This loan facility signifies the Bank’s commitment to support the government’s national priorities through financing infrastructure programmes that are geared to improve the security of energy supply which is needed to accelerate the economic growth of South Africa. The projects range from wind to solar.

Source: www.iol.co.za

BACK TO NEWS

DBSA approves R10bn for renewables

Latest News