The, KfW Development Bank as part of the KfW banking group is responsible for Financial Cooperation with developing countries. In terms of volume, this form of cooperation is the most important instrument in German development cooperation. KfW Development Bank helps its partners to set in motion an economically sustainable and socially just process of development. The objective of Financial Cooperation is to reduce poverty and improve living conditions, especially for the poor. KfW Development Bank promotes investments in infrastructure, financial systems and environmental protection. KFW partnered with IDC and finances the Green Energy efficiency Fund. The development of efficient financial systems opens up new opportunities for small and medium-sized companies and thus helps to create income and jobs. In crisis regions KfW helps to stabilize the social situation, for example through investment in job creation programs.
The Industrial Development Corporation (IDC) and the German Development Bank (KfW) have partnered to make a R500-million facility available for energy efficiency and self-use renewable energy projects called the Green Energy Efficiency Fund.
Energy Efficiency is a MUST for South African companies based on the high increases in electricity prices.
Investments are encouraged in energy efficiency and renewable energy projects aimed at improving energy efficiency facilitating South Africa’s transition towards a low-carbon economy. The energy and related cost savings will drive improved production capacity, operational effectiveness and competitiveness resulting in job creation.
The Green Energy Efficiency Fund (GEEF) supports the introduction of energy efficiency and self use renewable energy technologies and will ultimately continue contributing to global climate protection while supporting South Africa’s economic development and growth.
The Benefits of Energy Efficiency Investments for companies
Investing in energy efficiency is a strategic approach to ensure business competitiveness. The benefits of this investment include, but are not limited to:
• Technical support available for energy assessments based on the size and complexity of your proposed project.
• Investment risk reduction through energy efficiency validation checks.
• Modernization of your industrial equipment and the use of energy efficient technologies will result in reduced energy and other costs.
• Improved product quality and production capacity while increasing the company’s profitability.
• Improved company image due to contributions to carbon footprint reduction and South Africa’s sustainable development goals.
• Lower vulnerability to increasing energy prices.
• Increased company value.