KfW, RMB create debt fund vehicle for small renewables projects
Germany's KfW and South Africa's Rand Merchant Bank (RMB) have signed an agreement to set up South Africa's first specialised debt fund vehicle for small-scale renewables projects. The Facility for Investment in Renewable Small Transactions (First) will make finance available for projects that have found it challenging to access affordable funding from commercial investors. RMB has committed R1 billion in senior debt to the fund for first close, while KfW, is providing R350 million.