NDB, DBSA sign loan agreement for renewable energy projects in South Africa
The New Development Bank (NDB) and the Development Bank of Southern Africa (DBSA) have signed a $300-million loan agreement for the Greenhouse Gas Emissions Reduction and Energy Sector Development project.
The NDB will provide the loan to the DBSA without a sovereign guarantee.
The loan will be in the form of a two-step loan and will be on-lent to the DBSA’s identified subprojects within the wind, solar and biomass energy sectors, in particular.
The Greenhouse Gas Emissions Reduction and Energy Sector Development project is designed to support renewable energy projects in South Africa and help the economy shift to a more sustainable energy path through structural transformation of the energy sector with emerging renewable technologies.
The objective of the project is to facilitate investments in renewable energy that will contribute to the power generation mix and reduce carbon dioxide (CO2) emissions in South Africa, in line with the South African government’s Integrated Resource Plan and its target of reducing greenhouse-gas emissions as articulated in the National Development Plan 2030.
According to a statement issued on Monday, the project will bring significant developmental impacts through the subprojects, particularly related to environmental and social benefits from the reduction in CO2 emissions, the increase in generation capacity from renewable energy sources, and the increase in the efficiency of the energy sector in South Africa.
The project is also expected to contribute to unlocking private sector investment and increasing the availability of long-term funds for projects in the energy sector in the country.
The loan agreement was signed by NDB VP and COO Xian Zhu and DBSA CEO Patrick Dlamini during the fourth yearly meeting of the NDB in South Africa.
Comments
Research Reports
Latest Multimedia
Showroom
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
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
