Nedbank sees R10-billion pipeline of green energy projects
increased its green finance pipeline to more than R10-billion as more South African businesses invest in private power generation after the government lifted restrictions to help resolve the country’s energy crisis.
President Cyril Ramaphosa scrapped a 100MW limit on embedded generation in July, allowing companies and households to produce electricity without a licence to meet their own needs and sell to the grid. The state also doubled renewable energy procurement to 5.2GW under a so-called bid window six to help accelerate the country’s transition from a dependence on coal for more than 80% of its power, towards greener energy sources.
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