- CFA South Africa has invited project proposals for phase II of the program supported by the UK government
- Up to 12 projects will be selected under this round from climate tech, energy, transport, manufacturing, industry, land use, forestry, waste management and housing space
- Winners will receive technical and financial assistance and training to help them move closer to investment
The Government of South Africa, supported by the UK government, has launched its 2nd call under the Climate Finance Accelerator (CFA) seeking proposals for low carbon projects at pre-feasibility stage to enable the country’s transition to a net zero economy by 2050.
With a helping hand from the British High Commission in South Africa, South Africa will prefer projects that require at least $4 million. Selected projects will receive advice and support from technical, financial, gender equality and social inclusion experts to help them move closer to investment.
A total of up to 12 projects will be selected from climate tech, energy, transport, manufacturing, industry, land use, forestry, waste management and housing space.
“It is critically important that South Africa unlock opportunities for investment towards implementing a just transition to net zero emissions by 2050. To get investments and particularly investments in renewable energy, storage and peaking capacity at a large scale will require active support to climate project developers, including SMMEs, long term engagement and enabling policy, capacity building, and credible partnerships between project developers, finance, and government,” said CEO of the National Business Initiative (NBI) Joanne Yawitch. “Embedding the CFA process in supporting the implementation of South Africa’s climate commitments and just transition is a big part of the solution.”
A voluntary coalition of South African companies NBI and independent consulting firm GreenCape are the in-country partners for CFA South Africa, that’s funded by the UK Department of Business, Energy and Industrial Strategy (BEIS).
According to the tender call, proposals can be submitted till August 12, 2022.
The CFA is the UK government’s global technical assistance program for climate projects to access finance, and is operational in Nigeria, Colombia, Türkiye, Mexico, Peru, Pakistan & Egypt apart from South Africa.
Under phase I of the program in 2021, 13 projects were selected out of 120 applications received, and the winners received training from experts to enable them secure financing with different national and international investors. List of winners included solar powered battery charging infrastructure start-up Go-Lectric, solar rooftop marketplace Spark Plaid Solar, and another startup called Wetility that enables solar energy storage, released it automatically to power homes and businesses. It can be found on BEIS website.