EIB and DBSA’s €200 M for renewable projects
The EIB and the DBSA will each provide €100 million ($110.4 million) to support solar and wind power projects in South Africa.
Image for illustration purposes.
South Africa: The European Investment Bank (EIB) and the Development Bank of Southern Africa (DBSA) will each provide €100 million ($110.4 million) to support solar and wind power projects in South Africa, bringing the total funding under a previously launched initiative to €600 million. This complements a €400 million commitment made by the banks in 2022.
The additional funding will back projects in the private sector representing 384 MW of renewable energy capacity. The initiative is part of the EU’s Global Gateway strategy, aimed at bolstering global sustainable infrastructure development, especially in regions like Africa, Asia, and Latin America. The financing comes in addition to EIB’s €1 billion commitment under the Just Energy Transition Partnership (JETP) initiative which backs South Africa’s decarbonisation efforts.
Source: Renewables Now
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