United Kingdom (UK) announces investment in South African wind farms

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NAIROBI, Kenya Nov 2... British International Investment announces $6.7 million investment in 140MW wind farms in Northern and Eastern Cape of South Africa.

The new funding was trailed at business reception in cape town hosted by BII and the UK's development finance institution (DFI) and impact investor , while they celebrated 75 years of investing for impact Africa

The event brought together development finance institutions, investors, fund managers, multinational corporations, venture capital farms, start-ups and founders to advance the use of African venture capital in combating key development challenges.

BII has invested in at least 150 South African businesses since 1995, amounting to over $2 billion committed to South Africa and its portfolio companies have supported over 54,500 jobs  a year since 2014, by end of 2022, BII value in South Africa had expanded to approximately $285 million 

In addition , BII 's has partnered with H1 Holdings , a South African Broad based Black Economic Empowernment (BBBEE) renewables investment and development company and Scatec to launch three solar and battery storage facilities in Kenhardt under South Africa's Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP) 

DFI has partnered with South African based liquid intelligent solutions which has 100,000 km of fibre network Africa and Tyme bank, The country's leading digital bank that brings crucial banking services to the underbanked populations 

"We committed over $5.5 billion to Africa in our last five year strategy period , BII strategic in South Africa is to invest it patient,  long term capital to countinue to meet the needs of those missions and purpose strive for equality, inclusive economic growth and a more sustainable future" said Nick O'Donohoe, CEO , BII.


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