Clean energy asset developer, manager and owner Decentral Energy has inked a R115-million loan agreement with the Industrial Development Corporation (IDC) to develop and expand its pipeline of solar assets.
Decentral is a South African renewable energy investor that is mandated to invest in small-scale clean energy assets installed on commercial and industrial sites.
Under the terms of the agreement, the loan will be used to finance an expansion of Decentral Energy’s portfolio of private solar projects, thereby contributing to the energy transition in South Africa.
Commenting on the loan, Decentral Energy executive director Luel Culwick says the agreement is “a huge milestone” that validates the quality of Decentral’s asset portfolio and business model, while also setting the company up for vigorous growth by improving the scale and efficiency of its operations.
“We are delighted to be partnering with the IDC, which has been instrumental in taking Decentral to the next level as we follow our vision to play a key role in moving South Africa towards a clean, reliable, equitable and energy efficient future,” he adds.