SANEDI signs agreement to extend technical assistance for Green Credit Line
This article has been supplied as a media statement and is not written by Creamer Media. It may be available only for a limited time on this website.
SANEDI (South African National Energy Development Institute) and the AFD (the French Development Agency) signed an agreement on the 26th of May 2016, to extend and implement the Technical Assistance Facility to the SUNREF 2 Green Credit Facility. The event was attended by the Ambassadors of both France and Switzerland to South Africa. This technical assistance is complementary to a credit facility financed by AFD with partner banks and institutions. This facility provides long-term low-interest loans adapted to renewable energy and energy efficiency projects which face difficulties in accessing funding.
The partners, the IDC and Nedbank, will be in charge of lending directly to the sponsors according to criteria such as the size of the project and the environmental impact of the projects (CO₂ reduction, production of green energy, energy savings). This technical assistance program will be hosted by SANEDI as the institution is responsible for energy research and the promotion of green energy in South Africa. It will support the partners in identifying and assessing green projects. In addition, the technical assistance will also assist the banks and SANEDI in capacity building in the renewable energy sector for a period of three years.
SECO, the State Secretariat for Economic Affairs in Switzerland, and AFD at the same time signed an agreement to finance the technical assistance program, totaling an amount of €3 million sponsored by the SECO and managed by AFD will enable banks to strengthen their capacities in clean energy finance. It will also provide expertise for project developers to develop and improve their green energy projects. For the first collaboration of its kind between both institutions in South Africa, SECO has delegated this grant to AFD for a 5-year period. Both AFD and SECO believe in the importance of promoting renewable energy initiatives in the private sector as a key element to support green transition in South Africa.
This program builds upon a successful initial program implemented by AFD, SANEDI and 3 partner banks between 2012 and 2015 that allowed for the financing of 120 small-scale clean energy projects, resulting in CO₂ savings of 370 000 tons per year.
Through this new program, AFD, SECO, SANEDI and the partner banks confirm their commitment to support the country’s efforts towards a green transition. It is hoped that this program will enable the financing of a higher number of projects, therefore supporting the development of green industries and access to finance for small and medium companies in South Africa.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation