Spain to invest $2.3bn in South Africa’s energy transition

Spain is providing €2.1-billion ($2.3-billion) to help fund South Africa’s energy transition and water needs, even as some of the world’s richest nations struggle to push forward on a ground-breaking climate-finance initiative with the continent’s most-industrialized country. The Spanish funding is being provided through a mixture of financial instruments, with the country’s government working with its development finance institution, Cofides, and South Africa’s Industrial Development Corp., said Ambassador Raimundo Robredo Rubio.