Germany’s KfW to lend Cape Town €150m for green energy

Cape Town is set to accelerate its switch to green energy and limit reliance on erratic supply from the state power utility after winning a €150-million ($157-million) loan from Germany’s KfW Development Bank. The loan, which was agreed in December and will be announced this week at a ceremonial signing, will be used to bolster the power grid of South Africa’s second-biggest city to allow the transmission of more renewable energy, the bank said. It could also be used to help the municipality generate more of its own power, it added.