BANK TALKS ’ON TRACK’
Eskom yet to sign on renewable energy loans
The power utility says negotiations are on track with New Development Bank and the African Development Bank for loans that underpin renewable energy expansion
Eskom is yet to sign loan agreements with the New Development Bank and the African Development Bank secured in 2016, both of which depend on a commitment to the expansion of renewable energy. In both cases, Eskom says negotiations are on track and will be concluded shortly. Last week, after a standoff of more than six months during which it said it would not sign any new agreements with independent power producers, Eskom said it would sign purchase arrangements with all projects already approved. Eskom also said it remained committed to the construction of its own 100MW concentrated solar power (CSP) plant in the Northern Cape to which it agreed as part of the condition for a $3.75bn loan from the World Bank in 2010. A $180m loan from the New Development Bank (NDB) — formerly known as the Brics Bank — was approved in April 2016 specifically for investment in transmission lines and the connection of electricity capacity from renewable energy projects. Eskom said this week it had agre...
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