European Investment Bank funds for renewable energy and energy efficiency projects across South Africa

At the end of previous year, 2009, the European Investment Bank (EIB) agreed to provide a €40 million loan to FirstRand Bank to promote energy efficiency and renewable energy projects across South Africa. By doing this, they are the only investment bank to invest in green energy technology projects in South-Africa.

Looking at the current climate change, these kind of investments are of course more than welcome. Based on recent figures, also Africa (which has only limited heavy industry) emits more toxic gasses than it is allowed to.

Due to this, I think these investments are very useful in the battle against climate change, and it will certainly lower the current emissions. Another positive thing about this, is that this battle against climate change is a very good example for Africa. Africa hopefully will realize the consequences of a climate change and will therefore not make the same mistakes that Europe and other industrial continents did in the past, by emitting way too much toxic gasses.

More specific, this investment will be used to finance different kinds of projects. Specific focus will be on industrial cogeneration, but projects are also likely to include support for renewable energy schemes, waste or landfill gas for heat and power generation.

I certainly think the European Investment Bank in doing a great job. Having finished this donation, this already was the 4th one in 2009. These kind of projects will help not only to the battle against climate change, but will also bring new technologies to South-Africa of which local engineers can learn.


Niels Roels

News report: Het Journaal (één)
Article: http://www.envirodesk.be/inhoud/european-investment-bank-funds-for-renewable-energy-and-energy-efficiency-projects-across-sou