IDC gives R14bn for green projects

12 August 2014

Since the inception of the New Growth Path in November 2010 – in which South Africa’s renewable energy ambitions are defined – development 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. 

Economic Development Minister Ebrahim Patel said 22 projects fell within the funding structure of government’s Renewable Energy Independent Power Producer Procurement Programme, receiving R13-billion, of which R4.2-billion had thus far been disbursed.

Patel noted that projects qualifying under the energy-efficiency category were required to leverage one of several technologies, including rooftop photovoltaics; energy efficient lighting; solar water heaters; energy efficient refrigeration; variable speed drives; load controllers and heat pumps; and energy recovery turbines.

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