http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 16.27Change: 0.03
R/$ = 14.19Change: 0.05
Au 1292.76 $/ozChange: 1.61
Pt 1073.50 $/ozChange: -2.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters About Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 19, 2011

R500m energy-efficiency fund will also support self-use renewables projects

Back
The IDC's Rentia van Tonder, the German Embassy's Stephan Klaus Ohme and IDC CEO Geoffrey Qhena on the Green Energy Efficiency Fund and other green-economy aspirations. Camera Work Nicholas Boyd. Editing: Shane Williams.
 
 
 
Africa|Business|Cogeneration|Components|Efficiency|Eskom|Finance|Industrial|Installation|Power|Projects|Renewable Energy|Renewable-Energy|Solar|Technology|Water|Africa|Cogeneration|Energy|Manufacturing|Services|Solutions|Cogeneration|Infrastructure
Africa|Business|Cogeneration|Components|Efficiency|Eskom|Finance|Industrial|Installation|Power|Projects|Renewable Energy|Renewable-Energy|Solar|Technology|Water|Africa|Cogeneration|Energy|Manufacturing|Services|Solutions|Cogeneration|Infrastructure
africa-company|business|cogeneration|components|efficiency|eskom|finance|industrial|installation|power|projects|renewable-energy|renewable-energy-company|solar|technology|water|africa|cogeneration-industry-term|energy|manufacturing|services|solutions|cogeneration-person|infrastructure



The State-owned Industrial Development Corporation (IDC) has officially unveiled a R500-million fund, which seeks to promote energy efficiency and ‘self-use’ renewable energy projects primarily within energy-intensive industrial sectors in South Africa.

The Green Energy Efficiency Fund (GEEF) is backed by German development bank KfW, which has extended a €48-million long-term loan to the IDC at prime less 3%.

The facility, IDC CEO Geoffrey Qhena says, forms part of a larger plan at the domestic development financier to disburse some R25-billion in support of green economic development over the coming five years.

Through GEEF, the IDC will on-lend the funds in tranches of between R1-million and R50-million to enterprises with energy savings, or self-generation, projects able to shave at least 20% off their current power consumption levels.

The loans will be extended by GEEF at prime less 2% over a maximum tenure of 15 years, depending on the technology being deployed. The long-term nature of the funding is designed to match the anticipated duration it will take to generate a return on the green investments.

Green Industries business unit head Rentia van Tonder says 10% of the fund’s value has already been allocated to projects, which range from a rooftop solar photovoltaic installation at a Cape Town clothing and textile producer, to cogeneration and solar water heating schemes at chemicals and financial services companies respectively.

The IDC has also geared up for a slew of applications that are anticipated now that the fund has been officially launched.

No sectors have been specifically earmarked or excluded, but priority will be given to companies with yearly revenues of less than R51-million, assets of less than R55-million and employing more than 200 people.

Initiatives eligible under Eskom’s Integrated Demand Management programmes may also be eligible for GEEF support, including those seeking bridging finance to address the funding gap between making the actual investment and receiving the Eskom rebate or incentive.

Van Tonder says technical support, including the completion of energy assessments and the selection of the most appropriate technologies, will also be provided with the support of KfW to those applicants requiring such support.

KfW has material clean technology experience having supported the roll-out of renewable energy and energy efficiency programmes in Europe and the rest of the world.

In fact, the fist counsellor for economic cooperation and development at the German Embassy Stephan Klaus Ohme says KfW has emerged as a leading ‘green’ bank and is supporting some of the largest energy efficiency and renewable energy programmes in the world.

Ohme says the loan to IDC is also synergistic with South Africa internal green economy policies as outlined in the New Growth Path and the Industrial Policy Action Plan. Germany and German companies are also keen to participate in South Africa’s programme to procure 3 725 MW of renewable energy from independent power producers (IPP) between 2012 and 2016.

Van Tonder says the IDC will also be supporting renewable IPP projects, indicating that the bulk of the R25-billion will be directed to such initiatives. The balance will be shared between energy efficiency programmes, biofuels, emission and pollution management schemes and the development of the manufacturing capacity to supply components and solutions to green infrastructure initiatives.

Edited by: Creamer Media Reporter

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
 
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Electricity News
The World Bank does not expect the recent rise in platinum prices to be sustained for the full year, with its latest ‘Commodity Markets Outlook’ report forecasting a 10% year-on-year price decline in 2016. The report, released on April 26, notes that precious metals...
Article contains comments
Public Enterprises Minister Lynne Brown argued in Parliament on Tuesday that, as a 60% offtaker of coal in South Africa, Eskom should be in a position to command better coal prices and lamented the fact that the State-owned utility’s coal costs were rising at levels...
Article contains comments
More
 
 
Latest News
Environmental Affairs Minister Edna Molewa
Cabinet has extended the contract of Department of Environmental Affairs (DEA) director-general Nosipho Ngcaba and approved the appointment of Limpho Makotoko as the new DEA COO.     “Under the leadership of Ngcaba, the DEA has consistently received clean and...
Mzwandile Masina
The Department of Trade and Industry (DTI) has invited companies to participate in a trade and investment mission to Ghana and Nigeria from August 8 to 12.   Companies in the agriculture and agroprocessing sectors, built environment professionals, automotive and...
Cabinet has approved the Industrial Policy Action Plan (Ipap) 2016/17 to 2018/19, which seeks to achieve a higher-impact industrial policy in difficult economic circumstances, including the difficulties faced by the domestic steel industry and the drought which has...
More
 
 
Recent Research Reports
Automotive 2016: A review of South Africa's automotive sector (PDF Report)
Creamer Media’s Automotive 2016 Report provides an overview of South Africa’s automotive industry over the past 12 months. The report provides insight into local demand and production, vehicle imports and exports, investment and competitiveness in the sector, as well...
Energy Roundup – April 2016 (PDF Report)
The April 2016 roundup covers activities across South Africa for March 2016 and includes details of a North Gauteng High Court Judge’s dismissal of a court application to postpone the 9.4% electricity tariff increase, which the National Energy Regulator of South...
Electricity 2016: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2016 report provides an overview of South Africa’s electricity sector, focusing on State-owned power utility Eskom and independent power producers, electricity planning, transmission, distribution and the theft thereof, besides other issues.
Energy Roundup – March 2016 (PDF Report)
The March 2016 roundup covers activities across South Africa for February 2016 and includes details of the Department of Energy’s plans to announce the preferred bidders for the first tranche of the coal independent power producer procurement programme; the Council...
Steel 2016: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2016 Report examines South Africa’s steel industry over the past 12 months. The report provides insight into the global steel market and and particularly into South South Africa’s steel sector, including production and consumption, main...
Construction 2016: A review of South Africa's construction industry (PDF Report)
Creamer Media’s Construction 2016 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; key participants; local demand; geographic diversification; corporate activity; black economic...
 
 
 
 
 
This Week's Magazine
The two spent-fuel pools at Eskom’s 1 800 MW Koeberg nuclear power station, in the Western Cape, will be full by 2018, increasing the urgency on the State-owned utility to begin pursuing alternative storage options. Koeberg has, over the past 32 years, accumulated a...
South Africa lacks the skills necessary to implement the government’s plan to build 9.6 GWe of new nuclear energy capacity, warns nuclear-qualified Quality Strategies International CEO David Crawford. “Apart from the concern about the affordability of the programme,...
DOROS HADJIZENONOS The 700-series devices provide network security monitoring, app control, URL filtering, VPN security, antivirus, antispam, antibot, and advanced intrusion prevention and detection functionality
Cybersecurity multinational Check Point has released its latest 700-series cybersecurity systems for small businesses, which draw on its international threat intelligence to provide up-to-date cybersecurity, says Check Point South Africa country manager Doros...
Daimler Trucks and Buses Southern Africa (DTBSA) saw a marked slip in new-vehicle sales in 2015 compared with 2014, with sales dropping from 5 897 units to 5 300 units. The decline came as the South African new truck and bus market declined from 31 558 units in 2014...
Group of 20 (G-20) economies threatened to penalise havens that don’t share information on their banking clients after the leak of the Panama Papers provoked a global uproar over tax evasion. The G-20 will consider “defensive measures” against financial centers and...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $149 Close
Subscribe Now for $149