South Africa: New Development Bank (NDB) and Eskom signed a loan agreement for renewable energy integration and transmission augmentation project worth $180 M.
The project will integrate a total of 670 MW of renewable energy into the Eskom’s grid. Modern grid connection infrastructure will be used for renewable energy projects and augmentation of the Eskom transmission network to the identified areas.
The project will also help increase electricity supply to the targeted areas for sustainable development, enhance the country’s capacity for renewable energy while achieving sustainable growth. It also aligns with the bank’s focus to support projects that aim at developing renewable energy sources.
Source: ESI Africa