At the eve of delivering a net profit of R2.6 Billion, the Development Bank of Southern Africa has financed 21 renewable energy projects.
One of Africa’s leading development financial institutions in the continent, well versed in project preparation and implementation support for economic and social infrastructure in South Africa has extended into investing in renewable energy from South Africa to Ghana.
This is under the launch of the Renewable Energy Independent Power Producer Procurement Programme (REIPP), The DBSA’s funding into the energy projects has produced 2512 megawatts of power, addressing the energy crisis in South Africa and the SADC region.
R14.9 billion has been set to support government programs in the energy sector for South Africa, having all projects operational and delivery power to the national grid. Some of their successful projects include 5 commercial solar panels, 9 Solar PC’s and 5 wind projects. The funding has been provided in various forms, including mezzanine debt and BEE funding.
DBSA further supported numerous gas-fired plants and infrastructure across Africa as part of regional integration to alleviate the crisis of energy we are currently facing. Projects such as Ghana Powership, Cenpower and the Bulk Oil Storage Terminal of Ghana. “The energy portfolio accounts for the banks largest exposure and this signals our commitment to working with all partners and promoting the DBSA’s regional integration and infrastructure programme, says Ms. Chege.