Shoprite secures R3.5-billion in loans for solar, related projects

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The retail group has secured loans worth R3.5-billion from major banks to fund big investments in renewable energy and other environmental projects.

retail group, Shoprite, said on Monday that it had finalised “sustainability-linked” loans worth R3.5-billion from major banks to fund big investments in renewable energy and other environmental projects.

“A further sustainability-linked loan is in the pipeline,” the JSE-listed retailer said in a statement.Renewable energy and the increase of energy from renewable sources as a percentage of total electricity consumption;Sustainable packaging, including reusable, recyclable and compostable packaging, containing recycled material; and

 

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