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mylesillidge
Journalist
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- Jul 29, 2021
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South African banks battling over R4.6 trillion green power bonanza
South African banks are in fierce competition to capture the value created by the country’s transition to a low-carbon economy. Estimates indicate the country needs around R4.6 trillion in financing for the green transition until 2035.
This equates to roughly 3% of the yearly GDP in South Africa. Most of this capital would be committed to alternative energy sources, particularly renewable generation projects.
South African banks are in fierce competition to capture the value created by the country’s transition to a low-carbon economy. Estimates indicate the country needs around R4.6 trillion in financing for the green transition until 2035.
This equates to roughly 3% of the yearly GDP in South Africa. Most of this capital would be committed to alternative energy sources, particularly renewable generation projects.
