Eskom gets World Bank loan

2011-10-28 11:11

The World Bank has approved a R1.9 billion loan for Eskom’s solar and wind power project.

“The loan will help Eskom to implement two of the largest renewable energy projects ever attempted on the African continent,” the bank said today.

The project entails a 100 megawatt solar power plant to be set up in Upington, Northern Cape, and a 100 megawatt wind power plant in Sere, 300 kilometres north of Cape Town

The loan was funded by the Clean Technology Fund for low-carbon technologies.

“By investing in these cutting-edge, transformational solar and wind power projects, we are saying that Africa can lead the way in securing a clean energy future,” said Obiageli Ezekwesili, World Bank vice-president for the Africa Region.

The terms of the loan were not immediately provided.

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