Big boost for SA renewable energy

Cape Town - Renewable energy in South Africa is set to get a push from a $33.6m loan package granted to Spanish export company Abengoa.

Abengoa, which applies innovative technology for sustainability in the energy and environment sectors, will facilitate the export from the US of heat-transfer fluid for use in solar projects in South Africa and Spain.

The heat transfer fluid, made by Dow Chemical, will be used at one of the Northern Cape plants.

The Export-Import Bank of the United States (Ex-Im Bank) approved a pair of direct loans totaling $33.6m to Abengoa.

"These two transactions will support President Barrack Obama’s goal of doubling access to power in sub-Saharan Africa,” said Ex-Im Bank chairperson and President Fred Hochberg.

Two parabolic-trough solar plants are currently under construction in the Northern Cape and is a project with the Industrial Development Corporation.

 - Fin24

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