Enigin Update - €100M Fund for South African Energy Efficiency and Clean Energy
SPECIALIST bank Investec has reached an agreement with the European Investment Bank (EIB) to set up €100m of funding for the promotion of energy efficiency and clean energy in South Africa.
The EIB and Investec will each contribute €50m to the fund, which will be available for selected project over three years.
According to South Africa’s Business Day, Investec has a pipeline of energy efficiency and co-generation projects that will benefit from funding, let alone others that will benefit in a country struggling to maintain a consistent supply.
EIB vice-president Plutarchos Sakellaris said, "Ensuring reliable electricity supply and more efficient use of energy is essential for economic growth around the world. Working closely with Investec, the EIB looks forward to addressing energy challenges in South Africa."
Enigin Distributors across South Africa have the systems and technology from Enigin to enable businesses and organisations to improve their energy efficiency, reducing demand and costs. This new fund could help many of their clients to benefit from energy efficiency upgrades.
Picture of South Africa Cape Town by Derek Keats reproduced under CCL.
