Eskom to receive $474M for investment in transmission grid

South Africa, Johannesburg: South Africa’s power company Eskom and Agence Française de Développement (AFD) have signed a $474 million (€400 million) multi-tranche framework agreement to support Eskom investments in the extension and reinforcement of its power transmission grid.

Eskom’s Chief Financial Officer Anoj Singh said: “This multi-tranche loan facility will contribute towards Eskom plans to strengthen and refurbish the transmission infrastructure while diversifying our funding structures,” according to the press release.

AFD’s funding will focus on transmission lines and substations that support grid strengthening in areas where the development of future renewable energy sources are envisaged as well as to support the facilitation of cross border transmission projects.

Source: Eskom