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Renewable energy projects developed by independent power producers in South Africa received a € 400 million (ZAR 7.9 billion) boost with today’s announcement of a joint initiative between the European Investment Bank (EIB) and FirstRand Bank Ltd. A € 200 million (ZAR 3.9 billion) loan from the EIB will be matched by FirstRand Bank to invest in renewable energy, in particular solar photovoltaic and wind energy, as well as energy-efficiency projects. The investments will aim to increase the supply of reliable, affordable, clean and sustainable energy in the country, reducing dependence on fossil fuels.
Danish food innovator MATR Foods signed a €20 million loan agreement with the European Investment Bank (EIB) to expand production of plant-based meat-alternatives. The EIB funding, supported by the InvestEU initiative of the European Commission, will enable MATR to build a first-of-its-kind plant for the production of a new generation of clean label plant-based meat alternatives and unlock further investments in product research and development.
Ioannis Tsakiris, European Investment Bank Vice President today praised the partnership between the EIB and ESB and underscoring the importance of investment that is delivering a smarter, more efficient energy system during a visit to the headquarters of ESB in Dublin.