The African Development Bank Group (AfDB) and South Africa’s national power utility, Eskom, have signed a loan agreement of R2,886 billion and $25 million, which will be used to improve power transmission in Southern Africa.
This project contributes to the realisation of the New Deal on Energy in Southern Africa, one of the Bank’s priority development areas, by ensuring capacity to add new connections in South Africa and the region. Dr. Kapil Kapoor, Director General of the AfDB Group’s Southern Africa bureau said: “The AfDB and Eskom have had a long-standing partnership, through which the Bank is supporting the transformation of this critically important utility.”
“The financing of the Eskom Transmission Project will result in a significant strengthening of South Africa’s transmission infrastructure. Not only will this improve the reliability and security of electricity supply, but will also allow for the integration of large-scale renewable energy into the transmission network, enhance network capacity for future load growth and ensure the reduction in transmission losses.”
Source: ESI Africa