In April 2008 the Department of Energy (DOE), South Africa and the World Bank, acting as an implementing agency for the Global Environment Facility (GEF), entered into an agreement that established the Renewable Energy Market Transformation (REMT) Project in South Africa.
The project has two main components namely the Renewable Energy Power Generation
(REPG) sub-component and the Commercial Solar Water Heating (CSWH) sub-component.
The DOE entered into a Memorandum of Understanding (MOU) with the Development Bank of South Africa (DBSA) and appointed DBSA as the implementing agency for the REMT Project.
The 4- year REMT Project commenced in November 2008.
The Development Objectives of REMT:
To offer Technical Assistance and Financial Support to the South African Government in the removal of barriers to achieving the country’s Renewable Energy (RE) Target. Technical assistance is offered in the following areas:
- Legal, Policy, Framework
- Capacity Building,
Financial support is also offered to potential project developers in the areas of Renewable Energy Power Generation (REPG) and Solar Water Heating (SWH) for pre-investment phase grant funding.