UK-based British International Investment (BII) and GuarantCo, part of the Private Infrastructure Development Group (PIDG), have partnered with South African energy trader Etana Energy. The partnership includes a $100 million default guarantee facility, split equally between BII and GuarantCo, supporting South Africa’s largest energy wheeling framework. The initiative targets 500 MW of renewable energy, combining solar and wind, to strengthen South Africa’s power grid. The facility aims to unlock $500 million in investments, cutting annual CO2 emissions by 1.2 million tons. According to Etana, recent regulatory changes enable private producers to sell power to businesses. Backed by H1 Holdings, a black-owned firm, and UK-based Chariot Limited, Etana purchases renewable power for delivery through transmission networks. This project, GuarantCo’s first under JETP, highlights scalable climate finance solutions for emerging markets.
Energy wheeling framework adds 500 MW to South Africa’s grid
GuarantCo’s $50M support drives solar and wind investments in South Africa under the JETP. (Image Source: BII Renewables)
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