The involvement of Independent Power Producers (IPP's) in the IRP since March 2011 was considered to be a great success story by the banking sector. Project financing by 2012 totaled R100 billion, of which R70 billion was from debt financing, mostly provided by the commercial banking sector. The first two rounds of renewable energy procurement had resulted in a lot of interest from the financial sector. The commercial banking sector was looking forward to the next round of bidding, had the finance available and was 'ready to play'.