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Metalworkers fund sets up R1bn renewables debt facility

Engineering News

24 April 2013

The Metal Industries Benefit Funds Administrators (Mibfa) has confirmed that it will commit up to R1-billion for the provision of debt finance for projects participating in South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

The funds will be administered by black-owned asset manager Mergence Investment Managers, which has established the Mergence Renewable Energy Debt Fund.

Mibfa represents the interests of over 400 000 members in the Engineering Industries Pension Fund and Metal Industries Provident Fund, which collectively have assets worth more than R90-billion.  Read more

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