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DBSA committed to renewable energy projects

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(Duncan Alfreds, News24)
(Duncan Alfreds, News24)

Cape Town - The Development Bank of Southern Africa (DBSA) has contributed to 2 512 megawatts of power being installed on the national grid, it revealed.

The DBSA said it financed 21 renewable energy projects since the launch of the Renewable Energy Independent Power Producer Procurement Programme (REIPP).

These projects include 5 Commercial Solar Panels, 9 Solar PV’s and 5 wind projects.

“The DBSA’s achievements in the renewable energy space confirms our role as an instrumental partner in developing integrated solutions for and on behalf of the Department of Energy’s IPP office and  National Treasury,” said DBSA general manager for energy financing Lucy Chege.

Approximately R14.9bn of commitments have been made by the DBSA to support government programmes in the energy space. Some of the successes include the construction of two IPP Peaking power plants in South Africa - Avon 670MW and Dedisa 335 MW.

Approximately R2.167bn has been provided to enable the participation by BBBEEE players and local community trusts in various energy projects. Funding has been provided in the form of senior debt, mezzanine debt and BEE funding.

The bank said it has also financed numerous gas fired plants and infrastructure throughout the continent as part of regional integration efforts to address the power crisis. Regional projects include Cenpower, Ghana powership and funded the Bulk Oil Storage Terminal of Ghana.

“The energy portfolio accounts for the banks largest exposure and this signals our commitment to working with all partners and promoting the DBSA’s regional integration and infrastructure programme," said Chege.

The DBSA reported in it’s financial results for the past year a net profit of R2.6bn and sustainable earnings of R1.4bn. It delivered R28bn across the total infrastructure value chain, with development assets now standing at R77bn and total assets at R82bn.

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