China Development Bank lends R33.4 billion ($2.5 billion) for Kusile coal-fired power station
The South African electricity public utility Eskom has signed a CNY33.4 billion (USD2.5 billion) government-backed loan from the China Development Bank to be used for the construction of the 4.8 GW Kusile coal-fired power project located in Emalahleni, South Africa.
The loan agreement was signed following bilateral talks between the Chinese President Xi Jinping and President Cyril Ramaphosa. The loan was part of the cash-trapped power utility's funding requirement for the financial year, which is currently at 62%.
The project is in construction since 2008.
Country updates
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July 18, 2018
Globeleq, Brookfield enter agreement for the sale of six African renewable projects
Globeleq, a power sector leader in Africa, and an affiliate of Brookfield Asset Management have reached a definitive agreement whereby Globeleq acquires Brookfield’s interests in its South Afric...
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July 16, 2018
Central Energy Fund of South Africa will invest in the project
Central Energy Fund of South Africa will invest in the project. The investment will be made under a cooperation agreement between the fund and ACWA Power. Under its terms, the two parties will co-inve...
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July 11, 2018
Siemens has announced order to equip the project
Siemens has announced order to equip the project. Turbine deliveries are expected to start early next year, while commissioning of the parks is scheduled for 2020. A 10-year service agreement for the...
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July 11, 2018
Siemens has announced that it has been selected to supply turbines for the project
Siemens has announced that it has been selected to supply turbines for the project. Deliveries are expected to start early next year, while commissioning of the park is scheduled for 2020. A 10-year s...
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July 04, 2018
Garob wind farm has been connected to the grid
The 138 MW Garob wind facility has started distributing power in the grid. The scheme is built in the Northern Cape Province of South Africa. It is part of a two-wind-farm energy supply contract....
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