South Africa gets $250mn loan for wind, solar power

Nov 14, 2011
South Africa has signed a $250-million loan deal with the World Bank aimed at adding 200 Megawatts of solar and wind power to the coal-dependent country's grid.

South Africa signed a $250-million (183-million-euro) loan deal with the World Bank on Monday aimed at adding 200 Megawatts of solar and wind power to the coal-dependent country's grid.

The loan will help fund what the World Bank described as two of the largest renewable energy projects in Africa -- the massive Upington in arid Northern Cape province and the Sere wind farm in Western Cape province, 300 kilometres (185 miles) north of Cape Town.

"The agreement signed today is about accelerating development of large-scale renewable energy in South Africa. We are proud to be a partner in supporting South Africa's progress toward a clean energy future," World Bank country director Ruth Kagia said in a statement.

Each project will add 100 Megawatts to the grid, the World Bank said.

State electric utility Eskom currently relies on coal for 35,500 Megawatts -- more than 90 percent of its power generation.

South Africa has pledged to cut that to 65 percent by 2030 by investing in and renewable energy.

But the World Bank came in for criticism last year for lending more than $3.0 billion for a new 4,800 Megawatt coal-fired power plant.

Monday's loan comes from the Bank's fund.

Explore further: Website shines light on renewable energy resources

add to favorites email to friend print save as pdf

Related Stories

S.Africa solar plan draws interest: government

Oct 29, 2010

South Africa's plan to build what could become the world's biggest solar project has drawn keen interest from investors even though it is still in its infancy, an official said Friday.

World Bank musters $5.5 billion for solar projects

Dec 09, 2009

The World Bank announced Wednesday 5.5 billion dollars would be invested in solar energy projects in five countries of the Middle East and North Africa in a bid to combat climate change.

Africa's biggest wind farm opens in Morocco

Jun 28, 2010

Morocco's King Mohammed VI inaugurated Monday a 250-million-euro (300 million dollar) wind farm near Tangiers, which an official source said was the biggest in Africa.

AES wind farm kicks off in Bulgaria

Oct 06, 2009

AES Geo Energy, a Bulgarian unit of US energy giant AES Corporation, launched on Tuesday the largest 156-megawatt wind farm in Bulgaria, the company said.

Recommended for you

Website shines light on renewable energy resources

18 hours ago

A team from the University of Arizona and eight southwestern electric utility companies have built a pioneering web portal that provides insight into renewable energy sources and how they contribute to the ...

Better software cuts computer energy use

19 hours ago

An EU research project is developing tools to help software engineers create energy-efficient code, which could reduce electricity consumption at data centres by up to 50% and improve battery life in smart ...

Cook farm waste into energy

Dec 17, 2014

It takes some cooking, but turning farm waste into biofuels is now possible and makes economic sense, according to preliminary research from the University of Guelph.

Developing a reliable wind 'super grid' for Europe

Dec 17, 2014

EU researchers are involved in the development of a pan-European 'super grid' capable of dispersing wind power across Member States. This will bring more renewable energy into homes and businesses, help reduce ...

Boeing 737 factory to move to clean energy

Dec 16, 2014

Boeing said Tuesday it plans to buy renewable energy credits to replace fossil-fuel power at the factory in Washington state where it assembles its 737 commercial airplanes.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.