Eskom gets alternate power World Bank loan
Image by: Mark Wessels
The World Bank has approved a US250 million (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 in a statement on Friday.
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 kilometers 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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