The first approval is an AfDB loan of Euro 168 million and USD 100 million Clean Technology Fund concessionary loan to finance the first phase of the Ouarzazate concentrating solar thermal power station in Morocco.
The AfDB's Clean Technology Fund (CTF) pipeline for 2012 includes concentrated solar thermal power (CSP) projects in Kom Ombo, Egypt and Ouarzazate concentrated solar energy, Morocco.
This will support South Africa's national electricity utility, Eskom, in implementing a $1.3 billion renewable energy project introducing concentrated solar power to sub-Sahara Africa and the first wind farm to South Afr
The funds will be used for financing Sere, the 100 MW project which the parastatal plans in the Western Cape and a planned 100 MW concentrating solar power project in the Northern Cape.
The African Development Bank has approved a $365 million loan to Eskom for two power plant projects (CSP and wind farm)
"I am happy to inform this august sitting that the African Development Bank approved a US$365m loan to Eskom for the 100 MW Concentrated Solar Power Plant and the 100 MW Wind Power Plant," Gigaba said on Wednesday.