Power utility Eskom has received a $339 million (R4 billion) loan from KfW to help modernise its power grid, Germany’s state-controlled development bank said on Wednesday.
KfW said in a statement that the loan will be used to connect solar and wind power plants to Eskom’s power network and help to secure supply.“The adjustment of the energy supply is a big step for South Africa away from dependency on coal towards a more sustainable electricity generation,” Norbert Kloppenburg, a management board member at KfW, said in the statement.
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