The European Investment Bank's (EIB) decision, in partnership with the Development Bank of Southern Africa (DBSA), to expand its support for private renewable projects by nearly R4 billion is a significant step forward for South Africa. This bold initiative will not only provide an additional 384MW of renewable energy capacity to the grid but also bolster the country's socioeconomic development and climate resilience.
By increasing access to clean and affordable energy, this funding will support local job creation, enhance energy security, and reduce South Africa's dependence on fossil fuels. This is especially important for communities that have long been underserved, enabling them to participate more fully in the green economy. Additionally, the investment aligns with global efforts to combat climate change by cutting greenhouse gas emissions and reducing the carbon footprint of South Africa’s energy sector.
This collaboration sets a powerful example of how international partnerships can drive sustainable development and climate action. The EIB and DBSA are helping South Africa transition to a low-carbon economy while addressing critical economic and social needs. This combined effort is crucial to building a more resilient and inclusive future for the country and the broader African continent.
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a significant step towards accelerating the country’s clean energy transition ,and It's an encouraging sign of international collaboration to tackle climate challenges while supporting local development.
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We all do agree that green energy has way more benefits such as job creation and reduction of dependence on fossil fuels..this is the way.
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Funding climate change actions is crucial.
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This financial boost will not only help South Africa meet its renewable energy targets but also position it as a leader in clean energy within the continent, offering hope for a more sustainable and resilient energy future.
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This funding marks a critical milestone for South Africa’s renewable energy journey. By bolstering the grid with 384MW of clean power, the initiative will create jobs, enhance energy security, and decrease reliance on fossil fuels, driving long-term economic and environmental benefits.
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@munene_mugambi Well said... with this type of project, the transition to clean energy will be achieved easily in the country, making it a clean, green, pollution-free country
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Moving towards green energy is the way to go. We all ought to strive to clean a pollution free environment.
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@rosebellendiritu Absolutely! Transitioning to green energy is key to combating pollution and climate change. By adopting renewable energy sources, we not only reduce harmful emissions but also create a sustainable future that benefits both the environment and future generations.
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@rosebellendiritu, I second your sentiments. A green and clean planet is the target we ought to achieve, and we are a step closer to that goal. lets make the world a better place to live
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Inspiring to see international partnerships making real progress toward clean energy and climate action
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@dickson_mutai As we have always said ... together we can make an enormous difference and solve the climate crisis
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This investment in South Africa's renewable energy projects strengthens the nation's energy capacity, while advancing climate resilience and socioeconomic growth.💚👏
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@gorffly_mokua I agree. This project is a definition of killing two birds with one stone, and the benefits are enormous. That is why renewable energy should be encouraged globally.
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Dear Edwin wangombe Your climate love has received over 50 agrees! We have reached out to European Investment Bank by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time