SA green projects get support

Thirteen low-carbon projects in South Africa have been selected to receive support in finding investors through the UK’s Climate Finance Accelerator.

Under the initiative, projects covering areas such as waste management, energy and transport have been chosen to be supported by the accelerator, which will use public sector investment to help projects attract private finance.

Among the projects is the installation of cloud-based metering and renewable energy equipment in new developments and retrofit buildings; and creating new instruments to address funding climate infrastructure in Southern Africa by streamlining project financing into a single blended finance instrument through a partnership between commercial banks and institutional investors.

To ensure the selected projects are in the best position to attract investment from South African and international financiers, the projects will receive capacity building support in areas such as low-carbon technologies, blending finance from public and private sources, as well as advice on enhancing gender, equality and social inclusion.

The Climate Finance Accelerator is funded by the UK government’s Department of Business, Energy and Industrial Strategy.