South Africa’s renewable energy projects have received a funding of €400 million announced by the European Investment Bank (EIB) and FirstRand Bank Ltd. This joint effort includes a €200 million loan from the EIB, matched by FirstRand Bank. Moreover the aim of this initiative is to boost solar photovoltaic, wind and energy efficiency projects in the country.
This investment aligns with the Global Gateway strategy, part of Europe’s external plan for sustainable infrastructure, and supports South Africa’s Just Energy Transition Partnership (JETP). Furthermore, given South Africa’s substantial solar potential this initiative is expected to drive significant progress in energy security and climate goals.
Earlier this month, EIB inked a €35 million green loan with Haizea Wind Group. The investment will support Haizea Group in the production and assembly of large metal structures for wind turbines, including wind towers, monopile foundations, and components for offshore wind farms.
