Eskom is still waiting for a decision from the World Bank on an expected loan. South Africa’s main electricity provider should receive a decision on the $350 million loan from the World Bank’s Clean Technology Fund by June. Eskom is looking to diversify its energy source away from coal-fired plants and the loan will help it explore cleaner alternatives.
“Energy efficiency will play an increasingly important role in our country, and is crucial if we are to see the next two to three years through in the context of a constrained electricity supply-demand balance," Minister of Transport Sibusiso Ndebele said.
Eskom submitted a loan application to several lending institutions besides the World Bank through the Clean Technology Fund to finance a 100 MW solar power plant and a 100 MW wind power plant. An appraisal team from the fund was in South Africa last week and the ministry said it expects an answer on the final outcome of the application by June.
The Clean Technology Fund provides finance for renewable energy projects in developing countries.