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04 Mar 2019, Gergana Bencheva, EMIS Editor

South Africa with plan to boost interest in renewable energy projects

South Africa has found a way to boost interest in renewable energy projects by making them more appealing to commercial banks, BBJ - Energy Today reported. The much-needed help is provided by state-owned Development Bank of Southern Africa which has approved a funding a programme in the field.

The banking group has agreed to inject USD 200 million into the Embedded Generation Investment Program. Thus, it will kick start developments that will add 330 megawatts (MW) of new generating capacity to the national grid.

South Africa’s ambition is embedded generation to contribute 2,600 MW to its renewable energy capacity by 2030, BBJ - Energy Today noted.

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