Madrid will provide $2.3 billion loan for Cape Town’s transition from coal, the outlet has said Spain has promised to provide €2.1 billion ($2.3 billion) in loans and grants for South Africa's energy transition and water projects to help the continent’s most industrialized country shift away from coal, Bloomberg reported on Thursday. The deal requires a 30% return to Spanish companies in the form of equity or procurement. The funding will focus on projects in solar and wind energy, and will finance green hydrogen and electric vehicle production, as well as water and sanitation projects. South Africa is among the w
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