Europe finances 100 MW CSP project in South Africa

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The European Investment Bank (EIB) has provided a €75 million (ZAR1.05 billion/$100 million) loan to South African public utility Eskom for the construction of a 100 MW CSP project near Upington, in the Northern Cape province.

The EIB has already provided €220 million of financing for the neighbouring Ka Xu CSP plant, with the final tranche of funding supplied via the Development Bank of South Africa, in June.

The Upington project is being co-financed by the African Development Bank, French development agency the AFD, German counterpart KfW, the Clean Technology Fund and the World Bank.

Eskom is the largest producer of electricity in Africa and operates the only nuclear power station on the continent, at Koeberg in the Cape province.