$500 m package for SA’s green energy
A $500 MILLION donation from the world’s wealthiest nations has brought South Africa closer to its goal of rolling out thousands of solar water heaters, scaling up grid-connected renewable energy, and ensuring energy efficiency.
The Clean Technology Fund endorsed the funding envelope.
The fund helps developing nations mitigate the effects of global warming by investing in cleaner technology.
South Africa aims to derive four percent of its electricity from renewable energy by 2013, improve energy efficiency by 12% by 2015 and provide one million households with solar water heating over the next five years, says the Department of Water and Environmental Affairs.