The World Bank has approved a US12 million R218 million technical assistance package for the Southern African Power Pool SAPP under the RETRADE-SAPP programme. The support aims to help crowd in private capital for transmission and strengthen participation and liquidity in the regional power market.
According to the World Bank, the initiative will accelerate electricity trading across SAPPs 12 member countries by enabling greater cross-border power flows and integrating more renewable energy. The institution says these outcomes are expected to contribute to industrial development and job creation across the region.
We hope that this investment will accelerate support to our members in delivering resilient energy infrastructure while accelerating increased private-sector investment and cross-border electricity trading, says Steve Dihwa , Executive Director of the SAPP Coordination Centre.