Eskom Holdings will get a new $365 million loan from the African Development Bank (AfDB), Reuters reports. The loan will enable the South African state-owned energy company to fund a $1.3 billion renewable-energy project aimed at bringing concentrated solar power to sub-Saharan Africa.
The company will also use the financing to set up its first utility-scale wind power plant in South Africa. The financing has been primarily provided to boost Eskom’s share of renewable energy and reduce CO2 emissions.
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