The World Bank on Friday approved a $497m (about R9bn) concessional loan facility to Eskom to repurpose the Komati power station, the power utility said.
Having commenced service in 1966, the last operating unit of Komati (121MW) was shut down after it reached the end of its operating life on Monday.
Eskom said the loan approval followed successful meetings over the past two months in Washington DC between Eskom and World Bank executives.
“The loan facility will cover three main components: decommissioning of the Komati power station, repurposing and repowering of the station and other elements of the just energy transition, including provision for the training of Eskom employees, community development and stakeholder initiatives,” Eskom said
The power utility said the first phase of the repurposing will install 150MW of photovoltaic, 70MW wind generating capacity, 150MW battery energy storage system and a synchronous condenser.
The project has been approved by the Eskom board and the loan will be guaranteed by the National Treasury.
“This is a significant development for SA’s just energy transition to renewable energy as it brings the much-needed funding to enable Eskom to train its employees and members of the host communities to empower them to continue playing a central role in the provision of clean energy for the country,” said Mpho Makwana, Eskom board chairperson.
TimesLIVE
Eskom gets R9bn World Bank loan to repurpose Komati power station
Image: Freddy Mavunda /Business Day
The World Bank on Friday approved a $497m (about R9bn) concessional loan facility to Eskom to repurpose the Komati power station, the power utility said.
Having commenced service in 1966, the last operating unit of Komati (121MW) was shut down after it reached the end of its operating life on Monday.
Eskom said the loan approval followed successful meetings over the past two months in Washington DC between Eskom and World Bank executives.
“The loan facility will cover three main components: decommissioning of the Komati power station, repurposing and repowering of the station and other elements of the just energy transition, including provision for the training of Eskom employees, community development and stakeholder initiatives,” Eskom said
The power utility said the first phase of the repurposing will install 150MW of photovoltaic, 70MW wind generating capacity, 150MW battery energy storage system and a synchronous condenser.
The project has been approved by the Eskom board and the loan will be guaranteed by the National Treasury.
“This is a significant development for SA’s just energy transition to renewable energy as it brings the much-needed funding to enable Eskom to train its employees and members of the host communities to empower them to continue playing a central role in the provision of clean energy for the country,” said Mpho Makwana, Eskom board chairperson.
TimesLIVE
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