South Africa Eskom gets USD 250mn World Bank loan for renewable energy projects.

By bne IntelliNews November 16, 2011
The World Bank will lend South African power company Eskom USD 250mn to back the companys renewable energy projects, McGregor BFA reported. Eskom and the World Bank signed an agreement for a 40-year loan targeted at the funding of the construction of a 100MW solar power plant near Upington and a 100MW wind power farm near Vredendal in the Western Cape. Eskom expects to complete the construction of the wind park by 2013, while the solar park is targeted to be ready in 2014. Repayment of the loan will start in 2021. Eskom generates approximately 95% of the electricity used in South Africa and ????? 45% of the electricity used in Africa.

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