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South Africa invests in renewables

24 Oct 12 The Development Bank of Southern Africa (DBSA) has approved loan facilities of R9.6 billion (£682m) for renewable energy projects.

The loan will support the establishment of the renewable energy sector, representing 896.5MW of the 3,725MW national target announced by the Department of Energy.

"The energy sector is faced with a number of challenges,” said DBSA group executive for investment TP Nchocho. “We believe this investment in the local power generation and transmission infrastructure will stimulate the development of the green economy which is a key priority in creating jobs and growing the South African economy.”

The projects form part of 28 for which preferred bidders were named in the first bid window for the renewable independent power producers programme, launched by the Energy Department in August 2011.

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