August 30 (Renewables Now) - As part of her visit to South Africa, UK prime minister Theresa May announced a GBP-56-million (USD 72.8m/EUR 62.3m) investment for battery storage technology in the country.
The investment, to be made via the Clean Technology Fund, will contribute to a USD-500-million investment in battery storage by the World Bank and the African Development Bank in partnership with South Africa's government, the UK government said in a statement on Wednesday.
The project will support South Africa's efforts to reduce carbon emissions by increasing the use of renewable energy technologies.
As part of May's trip to South Africa, Nigeria and Kenya, the government also announced the next phase of the UK-Nigeria Climate Finance Accelerator, which matches government, project developers and finance market players from Nigeria with experts from the City of London.
(GBP 1 = USD 1.300/EUR 1.113)