South Africa’s vision of generating four percent of its electricity from renewable energy by 2013; to improve energy efficiency by 12% by 2015 and to provide one million households with solar water heating over the next five years has received a boost with the endorsement of a Clean Technology Fund (CTF). 

All of these measures will enable South Africa to make greater progress in terms of reducing Greenhouse Gas Emissions through the implementation of appropriate technologies to produce cleaner energy.

The CTF is a multi-donor trust fund created in 2009 as part of the Climate Investment Funds (CIF) to provide financing for the “demonstration, deployment and transfer of low carbon technologies that have a significant potential for long-term Greenhouse Gas Emissions (GHG) savings”.  The CTF resources amount to $5 billion and was pledged by donors such as Australia, France, Germany, Japan, Spain, Sweden, the United Kingdom and the United States.

In essence the application of these funds will contribute to sustainability and quality of the environment.  In addition, there is also great potential for business development and employment creation in the area of “green” energy.

For more information, visit http://www.climateinvestmenfunds.org

(Source: Department of Environmental Affairs)