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SA renewable industry scores R600m from Norwegian, British funders | Fin24

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H1 Capital, an equity partner in renewable energy projects, will use the funds to bolster renewable energy capacity by 2.4 GW.

SA's renewable energy industry has received a R600 million boost from foreign funders, Norfund and CDC Group.

Under bid window, five of the REIPPPP H1 is co-invested in 21 projects under four sponsors - namely Scatec, Redrocket, EDF and Globeleq Mainstream.The funding to H1 entails R360 million from Norfund and R240 million from CDC Group. The investment supports pledges Norway and the UK made at COP26 at Glasgow last year to scale up climate finance to Africa.

 

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