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Nedbank Sees South Africa Clean Energy Loans Jump to $3 Billion

  • CEO says bank has appetite for funding more renewable projects
  • Bank sees opportunities in Mozambique’s liquefied natural gas

Nedbank Group Ltd. wants to almost double its lending to green energy projects in South Africa over the next two years as it seeks to cement its position as a market leader in funding renewable power projects.

The bank’s lending toward the government’s Renewable Independent Power Producer Program -- aimed at boosting privately generated electricity in the nation -- may jump to about 50 billion rand ($3 billion) in the “short-to-medium term” from 29 billion rand, said Chief Executive Officer Mike Brown.