Investec Climate Action Facility Project in South Africa

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    Investec Climate Action Facility

    Date of entry

    22/03/2011

    Beneficiary

    Investec Bank Limited

    Location

    • South Africa

    Description

    The project will support small and medium scale investments in renewable energy and energy efficiency in South Africa.

    Objectives

    The operation will support the objectives of the South African Government to increase the share of renewable energy generation and enhance the efficiency of energy use.

    Comments

     

    Sector(s)

    • Energy

    Proposed EIB finance

    EUR 50 million

    Total cost

    EUR 100 million

    Environmental aspects

    The overall purpose of the operation is to improve the global environment by supporting projects that help to mitigate climate change. If located in the EU, many of the project schemes would likely fall under either Annexes I or II of the EIA directive (97/11/EC), which would require, respectively, a mandatory EIA or allow the competent authorities to determine the EIA requirements. The schemes to be selected for funding shall comply with EIB social and environmental standards.

    Procurement

    It is likely that for most of the projects financed public procurement is not applicable. The Bank will review systems and procedures applied by the financial intermediary (FI) during appraisal, in order to ascertain the FI’s ability to verify the adequate implementation of the Bank’s Guide to Procurement (Guide) in the projects. The Bank will verify compliance with the Guide.

    Status

    Under appraisal   –   22/03/2011.

    Comments

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