China Development Bank finance for Medupi power plant
Eskom has signed a US$1.5 billion loan agreement with the China Development Bank.
The R19.6 billion facility will help finance the Medupi power plant in Limpopo.
“We are pleased to see the continuation of the journey of cooperation that we started with our Chinese partners last year,” said Eskom's Interim Group Chief Executive Johnny Dladla.
“The conclusion of this second loan agreement continues to demonstrate financial markets' confidence in Eskom and South Africa, notwithstanding the challenging market conditions.”
“This loan will also aid us in ensuring that we complete the Medupi project and ensure security of energy supply.”