|Picture by: Duane Daws|
The Renewable Energy Market Transformation (REMT) Project, which was launched to help South Africa eliminate barriers to renewable energy development, has announced new grant funding available for renewable energy project developers.
A total of $1-million was available in grant funding for renewable energy power generation (REPG) projects and a total of $750 000 was available in grant funding for solar water heating (SWH) projects.
The REPG matching grant was available at a maximum of $100 000 per project.
This matching grant funding was targeted to assist project developers in the pre-investment phase of their projects, ensuring that the projects were brought to a bankable phase.
Another $250 000 was available specifically for SWH performance grants, which were targeted at enhancing the performance of SWH.
SWH has two types of funds, a matching grant and a performance grant both capped at $50 000.
The REMT Project is a joint initiative of the World Bank and Department of Energy, and is being implemented by the REMT Implementation Support Unit, which is housed within the Development Bank of Southern Africa.
REMT seeks to provide policy and institutional capacity building support at the national level, as well as offer matching grants to co-finance eligible pre-investment activities in the development of REPG and SWH projects.