Eskom gets a new loan for Western Cape wind project

Eskom has been given a R980 840 000 loan by the Agence Franaise de Dveloppement (AFD) towards its renewable energy projects, the electricity parastatal said on Thursday.

“The facility, which is for 20 years, will go towards financing Eskom’s 100 megawatt Sere Wind Project in the Western Cape [Vredendal],” it said in a statement.

The loan forms part of Eskom’s seven-year R300-billion funding plan.

Eskom had previously received loans from the African Development Bank, the World Bank and the Clean Technology Fund for its renewable energy projects in wind and concentrated solar power.

“Eskom values the relationship we have built with the AFD and we hope in the near term to conclude another facility with the bank for Eskom’s planned 100MW Concentrated Solar Power Plant in the Northern Cape,” said Eskom finance director Paul O’ Flaherty.

The AFD is a bilateral development finance institution that works on behalf of the French government.—Sapa

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