Current issue news: August 2010 Back to previous

$1 million for renewable projects

• Editorial staff

The Renewable Energy Market Transfor-mation (REMT) Project, which was launched to help South Africa eliminate barriers to renewable energy development, has announced new grant funding available for renewable energy project developers.

A total of $1 million was available in grant funding for renewable energy power generation (REPG) projects and a total of $750 000 was available in grant funding for solar water heating (SWH) projects. The REPG matching grant is available at a maximum of $100 000 per project.

This matching grant funding was targeted to assist project developers in the pre-investment phase of their projects, ensuring that the projects were brought to a bankable phase.

Another $250 000 was available specifically for SWH performance grants, which were targeted at enhancing the performance of SWH.

The REMT Project is a joint initiative of the World Bank and Department of Energy, and is being implemented by the REMT Implementation Support Unit, which is housed within the Development Bank of Southern Africa.