The City of Johannesburg (CoJ) is set to launch a Waste to Energy project, to supply 60,000 homes.
The Development Bank of South Africa (DBSA) announced on Thursday, that a R550 million grant agreement was signed between the City and the Infrastructure Fund, as well as Invest International.
The project will ultimately deliver about 28 Megawatts of renewable energy, at R5.7 billion.
Mohale Rakgate, Chief Investment Officer of the Infrastructure Fund, “this project not only supports Johannesburg’s waste management and energy needs but also illustrates how blended finance can unlock transformative, sustainable solutions for South Africa’s cities. As the Infrastructure Fund in partnership with the DBSA’s Project Preparation Division, we continue to work with our partners across South Africa in finding sustainable solutions that serve generations to come.”
The project is also expected to reduce landfill waste, and create jobs, marking a major milestone in Johannesburg’s journey to a cleaner, more resilient future.
City Mayor, Dada Morero, said “the City of Johannesburg appreciates this funding millstone from Invest International, as it will assist the City in promoting waste hierarchy through waste recycling; extend the life of the existing landfills by diverting municipal solid waste away to a waste energy facility and in the process, comply with Conference of Parties (COP) 27 Emissions standards and objectives and most importantly generate energy for the residents of the City.”
Picture: Supplied