Cape Town receives R5.9m assistance donation from IFC for energy transition

The City of Cape Town's Energy Directorate has accepted an offer of R5.9m in technical assistance from the International Finance Corporation (IFC). Its Sustainable Energy Markets Department is embarking on a number of projects relating to renewable energy purchase and generation, and other sustainable energy interventions.

21 Feb 2022

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Among these projects are:

Energy efficiency in municipal buildings/facilities
Electricity supply, including the purchase of renewable energy
Climate investment opportunities assessment
Green pricing approach

The letter of collaboration states that the technical assistance is provided to the city free of charge. There will be no co-payment or concomitant additional investment of resources by the city arising out of the transaction, since the city projects on which the assistance will be rendered are scheduled and resourced already. The rendering of the assistance by the IFC will not necessitate the allocation by the city of any additional resources.

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"The IFC and its team of consultants have the necessary expertise to render the assistance offered. The assistance will expedite and lend depth to the city’s endeavours in the relevant areas. The work is aligned to city policy and imperatives relating to energy sector reform and climate change mitigation. These are matters which require urgent attention given South African’s energy constraints and the changing energy governance landscape," said mayoral committee member for energy Beverley van Reenen.