Monday, June 6, 2011
South African utility, Eskom secures loan of $365 million USD loan for renewable energy development
The African Development Bank has approved Eskom’s $365 million USD loan for financing the 100 MW wind project which Eskom plans in the Western Cape and a 100MW concentrating solar power project in the Northern Cape. South Africa and Namibia are expected to lead the continent in renewable energy development in Southern Africa. The Namibian Ministry of Mines and Energy has recently revived its Solar Revolving Fund freeing up $1.5 million USD in order to encourage private households in Namibia to invest in solar PV systems.