The programme consists of a credit support mechanism that will develop a model for funding embedded generation renewable energy projects.
The Development Bank of Southern Africa said on Wednesday it had been granted US$100 million funding from the Green Climate Fund to establish the Embedded Generation Investment Programme .
The DBSA said it had matched the Green Climate Fund’s $100 million, ensuring a funding contribution of $200 million towards the implementation of the embedded generation investment programme from the two institutions. Once all sub-projects are in operation, the proposed investment will add 330 MW of new generating capacity, thereby directly avoiding emissions of more than 700,000 tCO2e per annum.
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