Fedgroup Renewables Capital Fund Co-funding by IDC

awarded

The Industrial Development Corporation (IDC) has entered into a R500 million co-funding arrangement with Fedgroup’s Renewables Capital Fund, supporting a structured financing model for renewable energy assets. The fund pools renewable energy and infrastructure-linked projects backed by industrial and commercial companies, providing long-term structured financing. Initial projects include a 7.1MW solar photovoltaic installation at Coega Steels in the Coega Industrial Development Zone, Eastern Cape, South Africa, financed through a R51.8 million structure with over 11,000 solar panels expected to generate about 9.3 GWh of electricity in its first year.