Eskom gets R4 billion loan to boost energy supply
The loan comes at a critical juncture in the power utility's effort to stabilise the national grid and Eskom’s finances.
Eskom has received a R4 billion loan from the German Development Bank kfW.
This was confirmed by Eskom Media Desk saying the loan will be for the integration of the renewable energy procurement power projects into the national grid and the strengthening of the electricity transmission network.
Director general of Government Communication and Information System (GCIS) Donald Liphoko said government has welcomed a R4 billion loan granted to Eskom.
Liphoko said the loan is part of the power supply’s approved funding plan to safeguard the country’s energy security.
“The loan comes at a critical juncture in our national effort to stabilise the national grid and Eskom’s finances. It allows us the space to diversify our energy sources and ensure more sustainable power generation.
The money will be used to build the Kiwano Solar Thermal Power Station in Upington, Northern Cape and the Ingula Pumped Storage Scheme in Braamhoek, KwaZulu-Natal.
“There has been no blackout recorded in Eskom’s operational history – which then makes it difficult to determine costs monthly,” said Liphoko.
