{"id":45768,"date":"2024-03-16T15:58:35","date_gmt":"2024-03-16T15:58:35","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects"},"modified":"2024-03-16T16:13:20","modified_gmt":"2024-03-16T16:13:20","slug":"fincorp-finances-e6-6m-solar-projects","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects","title":{"rendered":"FINCORP FINANCES E6.6M SOLAR PROJECTS"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>Eswatini Development Finance Corporation (FINCORP) has invested E6.6 million in financing four solar power generation projects in the country.<\/b><\/p>\n

This is contained in the 2023 annual report of the financial service company. This groundbreaking initiative comes in response to the escalating electricity costs and the persistent threat of load shedding, driven by the ongoing energy crisis in South Africa. With a total investment of E6.6 million, FINCORP has successfully facilitated the development of solar power generation projects with a combined capacity of 200 KW.<\/p>\n

However, due to ongoing regulatory processes being finalized with the regulator and utility company, the clients have not yet commenced supplying energy to the national grid. \u201cOnce this is concluded, it will greatly benefit the clients and the nation at large as they will supply the grid as well,\u201d reads the report in part.<\/p>\n

Under the visionary leadership of the Board Chairman, Meshack Kunene, who assumed the role of FINCORP Board Chairman in August 2022, these solar power projects have already demonstrated their potential to enhance the financial-economic viability of the businesses they support. Kunene, a former Managing Director of the Eswatini Electricity Company (EEC) and a highly esteemed engineer with extensive experience in power generation and distribution, with support from the board and management has come handy in driving this transformative endeavour.<\/p>\n

Kunene expressed his enthusiasm for expanding such projects in collaboration with external funders, including the European Investment Bank (EIB). \u201cThe solar projects have already resulted in improved financial and economic viability of the financed business. We are looking forward to rolling out similar projects in partnership with some of our external funders such as the European Investment Bank (EIB), which has prioritized clean and renewable energy generation,\u201d said Kunene.<\/p>\n

FINCORP Group Managing Director Dumisani Msibi assured the company\u2019s stakeholders that they remain optimistic about the prospects of the business. \u201cWe anticipate continued growth and expansion driven by our unwavering dedication to supporting small businesses across the length and breadth of the Kingdom of Eswatini,\u201d he said. \u201cWe commit to remaining agile, adaptive to market changes; and most importantly embracing technology in terms of service delivery; and refining our strategies to better serve our customers,\u201d he added. By spearheading the financing of solar power generation projects, the organisation is leading the way towards a greener and more resilient future for the country.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. Eswatini Development Finance Corporation (FINCORP) has invested E6.6 million in financing four solar power generation projects in the country. This is contained in the 2023 annual report of the financial service company. This groundbreaking initiative comes in response to the escalating electricity costs and the persistent threat of load shedding, driven by […]<\/p>\n","protected":false},"author":84,"featured_media":45767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234,248,249],"class_list":["post-45768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nFINCORP FINANCES E6.6M SOLAR PROJECTS - Eswatini<\/title>\n<meta name=\"description\" content=\"Eswatini Development Finance Corporation (FINCORP) has invested E6.6 million in financing four solar power generation ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FINCORP FINANCES E6.6M SOLAR PROJECTS\" \/>\n<meta property=\"og:description\" content=\"Eswatini Development Finance Corporation (FINCORP) has invested E6.6 million in financing four solar power generation ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-16T15:58:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-16T16:13:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2024\/03\/sm_1710592940.468246.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"680\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"FINCORP FINANCES E6.6M SOLAR PROJECTS\",\"datePublished\":\"2024-03-16T15:58:35+00:00\",\"dateModified\":\"2024-03-16T16:13:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects\"},\"wordCount\":404,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2024\/03\/sm_1710592940.468246.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/fincorp-finances-e6-6m-solar-projects\",\"name\":\"FINCORP FINANCES E6.6M SOLAR PROJECTS - 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