EIB, DBSA increase funding for private renewables projects to R11.9bn

The European Investment Bank (EIB) has approved another €100-million (R1.98-billion) loan in support of the Development Bank of Southern Africa’s (DBSA’s) Embedded Generation Investment Programme, which is supporting the development of private solar PV and wind projects in South Africa. The funding will be matched by the DBSA and is additional to the first €400-million (R7.9-billion) matching loan approved by both development finance institutions in 2022, increasing overall funding for the upscaling of small and medium-sized renewable-energy projects to €600-million (R11.9-billion).