IDC funding for green projects totals R14bn

Engineering News – ONLINE

11 August 2014

Since the inception of the New Growth Path in November 2010 ‚Äď in which¬†South Africa‚Äôs¬†renewable energy¬†ambitions are defined ‚Ästdevelopment finance institution, the¬†Industrial¬†Development Corporation (IDC), has funded 54 green¬†projects¬†in the solar, wind,¬†renewable energy¬†and¬†green technology sectors, committing some R14-billion to these emerging industries.

In a written response to a question by Democratic Alliance Member of Parliament¬†Gordon Mackay¬†last month, Economic Development Minister¬†Ebrahim Patel¬†outlined that 22 of these¬†projects¬†fell within the funding structure of government‚Äôs¬†Renewable Energy¬†Independent¬†Power¬†Producer Procurement Programme, receiving R13-billion, of which R4.2-billion had thus far been disbursed. ¬†Read more…


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