ADB finances wind farm and solar energy project in South Africa
13 June 2011
The African Development Bank is to extend financing of 365 million dollars to South Africa to develop clean energies.
The funds will be allocated to the public electric utility company Eskom, to cofinance a renewable energy project costing a total of 1.3 billion, reports the Xinhua press agency.
The project comprises the creation of a concentrated solar power site generating 100 Megawatts at Upington and the implementation of a wind farm at Sere.
"These two initiatives are the first of their kind in a region where they are seen as a test case and catalyst for larger-scale delivery of power using renewable technologies to displace considerable future CO2 emissions,” said Hela Cheikhrouhou, Director of the ADB’s Energy, Environment and Climate Change Department, in a statement published by the institution on its website.
The ADB will also be transferring knowledge of how to design and manage wind and solar projects to South African experts.