Standard Bank is seeking to invest around $1.5 billion in green energy projects in South Africa, Reuters reports. The country is seeking to expand its energy mix and cut its heavy carbon footprint.
Standard Bank is also planning to invest $50-75 million in Kenya’s Lake Turkana wind project and Mozambique’s proposed $3 billion Mphanda Nkuwa hydro-power project. The project is being jointly set up by a group consisting of Brazilian conglomerate Camargo Correa, the Insitec Group and Mozambique’s EDM.
