The new credit lines are for the development of on and off-grid renewable energy projects. The European Commission is offering the fund a €40 million helping hand.
The nation’s renewable energy legislation will be updated to expand net metering for projects connected to the medium voltage grid, paving the way for a wave of decentralized installations.
A representative of South Africa’s energy regulator said deals signed between 2011 and 2013 must be subject to lower tariffs to ease the financial crisis at national utility Eskom. The suggestion failed to convince delegates at an Africa Energy Forum panel discussion in Lisbon, however.
The 21st Africa Energy Forum, this year in Lisbon, kicked off yesterday and will run until Friday. The meeting offers an insight into the continent’s energy markets.
Although the nation’s PV industry has recently established new landmarks, warnings have been sounded about the immediate outlook for the sector.
The country’s PV market has heated up, a fact reflected by the number of applications submitted to the energy regulator seeking a license to generate electricity.
Developers have until May 29 to register for the first stage of the process to procure four solar projects. With work under way on the second round of the IFC’s Scaling Solar program in the nation, 12 bidders have been identified to compete for the two projects previously offered under the initiative.
The energy ministry has published a plan for renewables auctions for this year and next. Under the program, Greece’s energy regulator has announced the next PV tender will take place in the summer.
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