UK Announces Investment in South African Wind Farms to Address Energy Crisis and Accelerate Economic Growth

Cape Town, South Africa – 29 November 2023 – British International Investment (BII), the UK’s development finance institution, today announced a ZAR125 million ($6.7 million) investment in two 140MW wind farms in the Northern and Eastern Cape of South Africa. This investment is part of BII’s broader commitment to supporting South Africa’s transition to a clean and sustainable energy future.

The new wind farms, currently under construction, are expected to reach completion in 2024 and will provide clean, affordable energy to South Africa. This investment will help to address the country’s severe energy crisis, which has led to widespread power outages and economic hardship.

In addition to its investment in wind farms, BII is also supporting the development of other renewable energy projects in South Africa, including solar power plants and battery storage facilities. BII is also investing in digital infrastructure and tech-led innovation to help South Africa bridge the digital divide and create a more inclusive economy.

“BII is committed to helping South Africa tackle its energy crisis and accelerate economic growth,” said Nick O’Donohoe, CEO of BII. “We believe that renewable energy and digital technology have the potential to transform the South African economy and create a more prosperous future for all South Africans.”

Call to Action

Join BII and other investors in supporting South Africa’s transition to a clean and sustainable energy future. Invest in renewable energy projects and digital infrastructure to help South Africa build a more sustainable and prosperous economy.

About British International Investment

British International Investment (BII) is the UK’s development finance institution and impact investor. BII invests in businesses in Africa, Asia and the Caribbean to create jobs, drive economic growth and promote sustainable development. BII has a portfolio of over £8 billion invested in over 1,470 businesses across 65 countries.

For more information, please visit: https://www.bii.co.uk/en/

Compiled by:

Muhoro Pius W.

Business,Energy,Climate and International Trade Editor

Email: editor@k254nairobinews.com

 

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