Installing a new solar thermal system and improving energy efficiency

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Through the Sunref programme, a total amount of EUR 120 million was granted to local South Africa banks to identify and fund renewable energy and energy efficiency projects. These credit lines allowed small and medium sized companies to acquire higher quality equipment, achieve cost savings and become more competitive through better energy management.Via Sunref, Nedbank granted LVG a loan for the installation of thermal solar panels for hot water generation. This allowed the company to reduce its yearly carbon consumption by over 75% (from 4,000 tons/year to less than 1,000 tons/year), and consequently reduce CO2 emissions. In addition, an investment subsidy is funding a study on the feasibility of photovoltaic panels to supply the plant with electricity.