Updated: Apr 12
The Industrial Development Corporation (IDC) and the German Development Bank (KfW) have partnered to make a R500-million facility available for energy efficiency and self-use renewable energy projects called the Green Energy Efficiency Fund.
Energy Efficiency is a MUST for South African companies based on the high increases in electricity prices.Investments are encouraged in energy efficiency and renewable energy projects aimed at improving energy efficiency facilitating South Africa’s transition towards a low-carbon economy. The energy and related cost savings will drive improved production capacity, operational effectiveness and competitiveness resulting in job creation.
The Green Energy Efficiency Fund (GEEF) supports the introduction of energy efficiency and self use renewable energy technologies and will ultimately continue contributing to global climate protection while supporting South Africa’s economic development and growth.
The Benefits of Energy Efficiency Investments for companies. Investing in energy efficiency is a strategic approach to ensure business competitiveness. The benefits of this investment include, but are not limited to:
Technical support available for energy assessments based on the size and complexity of your proposed project.
Investment risk reduction through energy efficiency validation checks.
Modernization of your industrial equipment and the use of energy efficient technologies will result in reduced energy and other costs.
Improved product quality and production capacity while increasing the company’s profitability.
Improved company image due to contributions to carbon footprint reduction and South Africa’s sustainable development goals.
Lower vulnerability to increasing energy prices.
Increased company value.