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S Africa's Eskom secures USD-104m French loan for grid project

Noupoort Wind Farm, South Africa. Source: Mainstream Renewable Power. License: All Rights Reserved

December 14 (Renewables Now) - South African utility Eskom Holdings SOC Ltd has signed a ZAR-1.5-billion (USD 104m/EUR 92m) loan deal with Agence Francaise de Developpement (AFD) that will help bolster the power transmission grid along the west coast of the country.

Eskom will use the funds to build a 282-km, 400-kV transmission line between the Juno substation in the Western Cape province and the Gromis substation in the Northern Cape province. The move aligns with Eskom’s plan to beef up its high-voltage electricity network in order to ensure the integration of more renewable energy plants, it said in a statement on Thursday.

Construction work on the project is seen to start early next year.

The newly-signed loan represents the first tranche of a ZAR-6.5-billion facility agreed with AFD in March 2017. The French development agency is currently reviewing other project parts from within Eskom’s Transmission Development Plan 2019-2028 (TDP) for the subsequent tranches of the facility.

(ZAR 10 = USD 0.695/EUR 0.616)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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