Foreign loan for infrastructure upgrade

January 8th, 2019, Published in Articles: Energize

Eskom and Agence Française de Développement (AFD) have signed a R1,5-billion loan agreement to support the electricity utility’s investments in extending and strengthening its power transmission grid along the west coast of South Africa. This loan constitutes the first tranche of a R6,5-billion multi-tranche loan facility signed between the two institutions in March 2017. The transmission system plays a pivotal role in the nation-wide provision of electricity, as it delivers electricity from the power stations to distribution centres across South Africa. This first tranche will be dedicated to financing of the Namaqualand Strengthening Phase 2: Juno Gromis Project, which aims to strengthen the power network in the Northern Cape, integrate renewable energy sources, and ultimately facilitate cross border transmission. The project will include the construction of a 282 km 400 kV line between the Juno substation in the Western Cape Province and Gromis substation in the Northern Cape Province, with associated feeder bays and transformer bays. Construction is expected to start in early 2019.

Contact Eskom, Tel 011 800-3304, mediadesk@eskom.co.za

 

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