KFW, the German development bank, has offered a R4 billion loan to South African power utility Eskom so that it can boost its transmission grid in the Northern Cape and Western Cape provinces.
The advance requires approval from Eskom and the National Treasury. South Africa needs to build about 1,400 kilometres of transmission lines each year until 2030 to meet its energy needs, the embassy said in a statement released on behalf of the investment partners in the so-called Just Energy Transition Partnership — the UK, US, Germany, France and the European Union.
South Africa is facing a crippling power crisis, which at times necessitates power cuts of more than 10 hours a day. Attempts to tackle it have been hampered by the weakness of its transmission grid, which has limited the amount of renewable energy that can be added.
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