Decentral Energy has entered into a loan agreement with the Industrial Development Corporation (IDC) to develop and expand its robust pipeline of solar assets. Decentral is a South African renewable energy investor that is mandated to invest in small-scale clean energy assets installed on commercial and industrial sites.
Under the agreement, the R115 million loan will be used to finance an expansion of Decentral Energy’s portfolio of private solar projects, thereby contributing to the energy transition in South Africa.
Commenting on the loan, Decentral Energy Executive Director Luel Culwick said: “We are so excited to have concluded this agreement with the IDC. It’s a huge milestone that validates the quality of Decentral’s asset portfolio and business model, while also setting us up for vigorous growth by improving the scale and efficiency of our operations.”
He added: “We are delighted to be partnering with the IDC, which has been instrumental in taking Decentral to the next level as we follow our vision to play a key role in moving South Africa towards a clean, reliable, equitable, and efficient energy future.”