Eskom Latest: Germany’s KFW €200 Million Loan; Moody’s Upgrade
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The German development bank, KFW, has offered a €200 million ($214 million) loan to South African power utility Eskom Holdings SOC Ltd. to further develop its transmission grid in the Northern Cape and Western Cape provinces.
The sovereign loan, part of an $8.5 billion energy transition pact between South Africa and some of the world’s richest countries, would enable Eskom to add 2,200 megawatts of renewable energy to the national grid, the German embassy to South Africa said Thursday. The advance requires approval from the utility and the National Treasury.