R9.6bn in green energy loans approved
23 October 2012
The Development Bank of Southern Africa (DBSA) announced on Monday that it has approved R9.6-billion worth of loan facilities for 14 renewable energy projects in South Africa.
The Department of Energy has selected 47 preferred bidders to provide South Africa with 3 725 MW of renewable energy through its programme involving independent power producers.
The 14 projects to benefit from DBSA loans are among the first batch of 28 preferred bidders selected by the department, and between them are expected to add 896 MW of renewable energy to South Africa's national grid.
The projects are all in solar energy, with the exception of a wind energy project in Jeffrey's Bay in the Eastern Cape.
The 13 solar projects include both concentrated solar and solar photovoltaic projects, and with the exception of one project in the Free State province, are all located in the Northern Cape.
DBSA group executive for investments TP Nchocho said in a statement on Monday that the bank's investment would help to stimulate the development of a green economy, "which is a key priority in creating jobs and growing the South African economy".
Nchocho added that the loan approvals came after thorough environmental analyses of the projects to ascertain their environmental impacts.