SA’s renewable energy auction system ‘the best in Africa’

SA’s renewable energy auction system is the best in Africa and has provided a platform that can be used to support similar projects in other countries on the continent, says African Development Bank (AFDB) president Akinwumi Adesina. The AFDB led a group of eight other banks to provide a syndicated A/B loan for $965m to Eskom that hinged on the power utility’s commitment to renewable energy. Adesina, speaking on the sidelines of the AFDB’s annual meeting, which started in Ahmedabad in India on Monday, said this was the largest syndicated A/B loan done in Africa’s history yet. "That is well on track and that will help to deal with some of the challenges [SA] has with electricity," he said. "I’m quite proud of what South Africa is doing in the renewable energy space. Today, the independent renewable energy power project system that was put in place by South Africa ... is the best in Africa and I think it has provided us with a platform which we can use to be able to ... support simila...

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