EIB, FirstRand Bank boost renewables investment in South Africa with R7.9bn initiative

The European Investment Bank (EIB) and FirstRand Bank have announced a €400-million (R7.9-billion) joint initiative to invest in renewable-energy infrastructure and energy efficiency projects in South Africa. Each party will contribute €200-million to the initiative, with the investment aimed at increasing the supply of reliable, affordable, clean and sustainable energy in the country, reducing dependence on fossil fuels.