Eskom of South Africa in Line for $370 Million AfDB Loan

The African Development Bank will probably lend Eskom Holdings Ltd., South Africa’s power utility, $370 million for green energy projects as the country tries to build its capacity and prevent outages, the bank said.

The Tunis-based AfDB’s board will consider the loan in June and there is a “substantial probability” it will be approved, Hela Cheikhrouhou, the lender’s climate change and energy director, said in an interview today in Pretoria, South Africa’s capital. The loan and concessional debt facility will be for a 200 megawatt wind turbine project in Africa’s largest carbon emitter’s Western Cape province, and a 100 megawatt solar energy facility in the Northern Cape province, she said.