It is good news indeed, not only for the South African economy, but for the environment, as well as contribution to the reversal of anthropogenic impact on climate change in Africa.
Clean Technology Fund to invest millions in SA
The World Bank's Clean Technology Fund plans to invest $85 million in renewable energy and co-generation projects in South Africa, according to an advertisement in the Business Day newspaper on Friday. The fund said it had $50 million available for wind and solar renewable energy projects and $35 million for co-generation, where waste energy and gases are used to produce power.
The $85 million was part of a total $150 million allocated for investment in South Africa, with the remainder being managed by the African Development Bank.
South Africa's state-owned power utility Eskom has said it will conduct more research in clean technology as it seeks a new World Bank loan to finance renewable energy power projects.
The World Bank in April approved a controversial $3.75 billion Eskom loan to develop a coal-fired power plant in South Africa despite the lack of support from the country's key Western allies.
Sourced by SA - The Good News via Reuters
Read more at www.sagoodnews.co.za
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