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$339 Million Loan To Help South Africa Integrate Renewable Energy Into Its Grid

Author: Smiti Mittal

$339 Million Loan To Help South Africa Integrate Renewable Energy Into Its Grid

The global renewable energy market is abuzz with the recent announcement of results of the fourth round auction of projects under South Africa’s Renewable Energy Independent Power Producers Procurement Programme. But the real impetus for these and future auctions is related to a crucial development in South Africa’s electricity sector. 

Cahora Bassa (HVDC) Transmission Line at Kruger National Park, South Africa 

Bidding for the fourth auction closed on 18 August 2014, but the results were delayed by about 8 months because the government could not allocate projects to successful bidders as the country’s power utility Eskom expressed its inability to provide transmission grid access to the new renewable energy projects. 

The government finally went ahead with announcing the fourth round auction results after Eskom closed a $339 million financing deal with KfW for upgrading the transmission network.

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