City of Cape Town Link

City accepts R5,9m assistance donation for its energy transition

<p></p><p>The City’s Sustainable Energy Markets Department is embarking on a number of projects relating to renewable energy purchase and generation, and other sustainable energy interventions. Among these include:<br></p><ul><li><div style="text-align:left;">Energy efficiency in municipal buildings/facilities</div></li><li><div style="text-align:left;">Electricity supply, including the purchase of renewable energy</div></li><li><div style="text-align:left;">Climate investment opportunities assessment</div></li><li><div style="text-align:left;">Green pricing approach</div></li></ul><p>The IFC and the City have agreed that the approximate value of the assistance to be provided is R5,9 million.</p><p>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.</p><p>‘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.</p><p>‘We thank the IFC for their generous donation of assistance. We can see how these project area outcomes will benefit our residents and how the IFC’s generosity will enhance our ongoing work in these areas. We are committed to doing everything we can, and with all partners, to achieve cleaner, more affordable and secure energy for our residents,’ said Councillor van Reenen.<br> <br><strong> </strong><br><strong>End</strong><br> <br></p>

2022-02-19T22:00:00Z

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