Eco Minute 13:30

BULLETIN 11 July 1:30 pm

Good afternoon, here is your Eco Minute:

# Agri Western Cape says while inclement weather may cause crop and infrastructure damage, the rain is desperately needed. The province is currently experiencing heavy rain leading to flooding, strong wind and snow in some areas. Agri Western Cape’s Jannie Strydom says the rain is filling up major catchment areas which is crucial for crops like wheat, canola, barley, and oats. He adds that farmers are pleased with the rain, despite potential damage in low-lying areas.

# Revego Fund Managers is looking to raise about three-billion-rand to invest in renewable energy projects. All of the fund’s ten investments so far are in South Africa, which has the biggest renewable energy industry in sub-Saharan Africad. Last year, the fund invested in a 150-megawatt solar plant in the Free State, which will be the first to sell electricity to multiple private buyers. The fund’s Ziyaad Sarang says the region needs over three-trillion-rand in renewable energy investment by 2031.

# And, the US International Development Finance Corp has approved a loan of around 1.83-billion-rand to help finance Mozambique’s first utility-scale wind-power plant The project, located about 50 kilometres west of Maputo, will reach financial close this year. DFC will also provide 1.4-billion-rand in political risk insurance to Globeleq Africa, which is developing the 120-megawatt plant. Mozambique is mostly reliant on a single hydroelectric dam for its power generation.

Stay tuned for more news………….