Eskom has secured a $365m loan from the African Development Bank for 200 MW of wind power and solar thermal projects. The loan will help fund a wind farm and a concentrating solar power (CSP) plant, both of 100MW.
The African Development Bank had approved a $365 million (R2.5 billion) loan to Eskom for two power plant projects, Public Enterprises Minister Malusi Gigaba said today.
“I am happy to inform this august sitting that the African Development Bank approved a $365m loan to Eskom for the 100 MW Concentrated Solar Power Plant and the 100MW Wind Power Plant,” Gigaba said. He was delivering his budget vote speech in Parliament.
These projects are part of Eskom’s plan to address South Africa’s commitment to carbon reduction and clean energy.