The World Bank approved a US$250 million loan to support South Africa's Eskom utility company in building two 100 MW plants, one using concentrated solar power and the other using wind.
27 October 2011: The World Bank approved a US$250 million loan for South Africa to help implement utility-scale, concentrated solar power and wind power plants for electricity generation.
The loan, by the Clean Technology Fund, adds to a package of US$260 million provided to Eskom to implement the Upington and Sere renewable energy projects, which were included in a US$3.75 billion Eskom Investment Support Project approved in April 2010. This loan will help Eskom implement two of the largest renewable energy projects on the African continent: a 100 Megawatt, utility-scale, concentrated solar power plant; and a 100 Megawatt wind power project. [World Bank Press Release]