Eskom receives extra loan to extend power transmission grid
Eskom and Agence Française de Développement (AFD) have signed a loan agreement worth $102 million to help finance projects aimed at strengthening Eskom’s power transmission grid along the west coast of South Africa.
The funds will be used for financing of the Namaqualand Strengthening Phase 2: Juno Gromis Project, which aims to strengthen the power network in the Northern Cape Province, integrate renewable energy sources, and ultimately facilitate cross-border transmission, reports ESI-Africa.
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.
This loan constitutes the first tranche of a $456 million multi-tranche loan facility signed between the two institutions in March 2017.
Construction is expected to start in early 2019.