Renewable energy sector receives $300m loan boost

SA’s drive to boost the renewable energy sector has received a boost following the signing of a $300m loan agreement between the New Development Bank and Development Bank of Southern Africa designed to support the sector.

The $300m loan agreement is for greenhouse gas emissions reduction and the energy sector development project. It was signed by NDB vice-president and COO Xian Zhu and Patrick Dlamini, DBSA CEO at the fourth annual meeting of the NDB in Cape Town on Monday.The power utility, which supplies virtually all of SA’s energy, has also struggled with maintenance issues and design flaws at its new coal-fired power stations Medupi and Kusile.

Last week, energy minister Jeff Radebe said the renewable energy sector had a large role to play in addressing the energy crisis.

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