JOHANNESBURG - South
Africa has made available 800 million rand for renewable energy projects
and is seeking private partners to manage the fund, Finance Minister
Pravin Gordhan said on Monday.
"This is government's effort to firstly establish its own
renewables fund if you like, and ensure that across government we have a
more a coordinated approach towards funding."
"We've advertised for entities to indicate their interest in
managing such a fund. It's important that we build partnerships with the
private sector, with multilateral organizations, with NGOs as well who
have the capacity to contribute to projects of this sort," Gordhan
added.
He was speaking at a signing ceremony for a $250 million World
Bank loan to electricity utility Eskom to develop wind and solar plants
in a push to boost sources of clean energy and increase energy
production in South Africa.
Public Enterprises Minister Malusi Gigaba said the loan showed great investor confidence in South Africa and Eskom.
The loan was approved last month before ratings firm Moody's
downgraded the outlook on Eskom's BAA2 rating to negative from stable,
in line with a similar appraisal for the sovereign rating.
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