WB gives $250m to South Africa’s renewable energy projects

WB gives $250m to South Africa’s renewable energy projects

The World Bank has finalised the $250m funding to South Africa’s Eskom Renewables Energy Support Project to get both the Upington concentrating solar power (CSP) and Sere wind power plants off the ground.

The World Bank has finalised the $250m funding to South Africa’s Eskom Renewables Energy Support Project to get both the Upington concentrating solar power (CSP) and Sere wind power plants off the ground.

The financial commitment has been made through the Clean Technology Fund, and is alongside the $260m provided to Eskom to implement the Upington and Sere renewable energy projects included in the $3.75bn Eskom Investment Support Project approved in April 2010.

Obiageli Ezekwesili, vice president for the Africa Region at the World Bank, said, ‘Africa is beginning to grow and the problem of energy insecurity is dampening that growth. By investing in these cutting-edge, transformational solar and wind power projects, we are saying that Africa can lead the way in securing a clean energy future.’

Coal-dependent South Africa is implementing an ambitious renewable energy programme led by its state utility Eskom.

The Upington solar project is set to be a 100MW CSP plant to be located in the Northern Cape province while the Sere wind farm will have the same capacity but be located 300km north on Cape Town.

‘We are very pleased to assist South Africa launch these ambitious flagship renewable energy projects,’ said Ruth Kagia, country director for South Africa at the World Bank. ‘They will help South Africa to fulfill its commitments on lowering emissions while demonstrating the viability of large-scale renewable energy projects undertaken in Africa.’

The funding comes ahead of South Africa hosting the next United Nations climate change meeting in Durban. The convention will be the first time global climate change discussions have been held in Africa.

 

 

2015-08-28T08:57:52+00:0002-11-2011|Categories: NEWS|Tags: , , , , , , |