Renewable loan costs falling
19 August 2013
It is good, sound bank lending – Nedbank.
Costs to fund renewable-energy projects in South Africa are falling as companies bid for wind, solar and hydropower plants in Africa’s biggest economy, where electricity supply struggles to match demand.
Potential investors are vying for R120 billion of the government’s renewable-energy projects, according to Nedbank Capital, which has loaned about R9 billion so far to fund construction. The Department of Energy will receive bids equivalent to about 9,000 megawatts for a 1,200- megawatt offer by today’s submission deadline, the Johannesburg- based lender said. It’s the third round of bidding for a total of 3,725 megawatts to be added to the national grid by 2016. Read more