The European Investment Bank (EIB) and Development Bank of Southern Africa (DBSA) are every investing €100 million ($110.8 million) in small and medium-scale photo voltaic and onshore wind tasks in South Africa. Together, they’ve now dedicated €600 million underneath South Africa’s Embedded Generation Investment Program (EGIP).

Image: Filiz Elaerts/Unsplash

The EIB and DBSA have every invested €100 million in renewable vitality tasks within the personal sector in South Africa.

The funding comes after a €400 million financing spherical introduced at COP27 in 2022 for DBSA’s embedded era funding scheme. The program targets small and medium-sized photo voltaic and onshore wind tasks developed by impartial energy producers in South Africa.

The tasks supported underneath the most recent funding are anticipated to supply 384 MW of vitality capability.

DBSA CEO Boitumelo Mosako mentioned tasks that had been beforehand funded at the moment are coming on-line and contributing to the grid.

In July 2024, South African President Cyril Ramaphosa mentioned the nation has greater than 22,500 MW of renewable vitality merchandise within the pipeline, with future tasks anticipated to herald almost ZAR 400 billion. ($22.6 billion) in new personal funding.

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