South Africa signed a $250-million (183-million-euro) loan deal with the World Bank on Monday aimed at adding 200 Megawatts of solar and wind power to the coal-dependent country's grid. The loan will help fund what the World Bank described as two of the largest renewable energy projects in Africa -- the massive Upington solar park in arid Northern Cape province and the Sere wind farm in Western Cape province, 300 kilometres (185 miles) north of Cape Town. "The agreement signed today is about accelerating development of large-scale renewable energy generation capacity in South Africa. We are proud to be a partner in supporting South Africa's progress toward a clean energy future," World Bank country director Ruth Kagia said in a statement. Each project will add 100 Megawatts to the grid, the World Bank said. State electric utility Eskom currently relies on coal for 35,500 Megawatts -- more than 90 percent of its power generation. South Africa has pledged to cut that to 65 percent by 2030 by investing in nuclear plants and renewable energy. But the World Bank came in for criticism last year for lending more than $3.0 billion for a new 4,800 Megawatt coal-fired power plant. Monday's loan comes from the Bank's clean technology fund.
GMT 14:36 2018 Sunday ,14 January
Fossil fuels blown away by wind in cost terms: studyGMT 18:20 2018 Thursday ,11 January
Ukraine to launch its first solar plant at ChernobylGMT 18:44 2018 Tuesday ,09 January
Finland's Fortum snaps up EON's fossil fuels stakeGMT 17:39 2018 Wednesday ,03 January
Norway powers ahead electrically with over half of new car sales now electric or hybridGMT 15:36 2018 Wednesday ,03 January
Minister of Mining Says Govt. Invested MAD 12.3 Billion between 2003-2017GMT 18:00 2017 Saturday ,23 December
Energy prices bump key US inflation index up in NovemberGMT 09:01 2017 Friday ,15 December
BP plan to buy Australian petrol pump network blockedGMT 14:54 2017 Monday ,27 November
Belarus nuclear power plant stirs fears in LithuaniaMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor