{"id":290944,"date":"2018-12-13T15:38:28","date_gmt":"2018-12-13T13:38:28","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=290944"},"modified":"2018-12-13T15:38:28","modified_gmt":"2018-12-13T13:38:28","slug":"eskom-in-r1-5-billion-loan-agreement-with-french-development-agency","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/290944\/eskom-in-r1-5-billion-loan-agreement-with-french-development-agency\/","title":{"rendered":"Eskom in R1.5 billion loan agreement with French development agency"},"content":{"rendered":"<div class=\"page-content\">\n<div id=\"ctl00_PlaceHolderMain_RichHtmlField1__ControlWrapper_RichHtmlField\" class=\"ms-rtestate-field\" aria-labelledby=\"ctl00_PlaceHolderMain_RichHtmlField1_label\">\n<div>\n<p>Eskom and Agence Fran\u00e7aise de D\u00e9veloppement (AFD) on Thursday signed a R1.5 billion (EUR 90 million) loan agreement to support the electricity utility\u2019s investments in extending and strengthening its power transmission grid along the west coast of South Africa.<\/p>\n<p>This loan constitutes the first tranche of a R6.5 billion (EUR 400 million) multi-tranche loan facility signed between the two institutions in March 2017, it said.<\/p>\n<p>This first tranche will be dedicated to financing of the Namaqualand Strengthening Phase 2: Juno Gromis Project, which aims to strengthen the power network in the Northern Cape Province, integrate renewable energy sources, and ultimately facilitate cross border transmission.<\/p>\n<p>The project will include the construction of a 282 km 400 kV line between the Juno substation in the Western Cape Province and Gromis substation in the Northern Cape Province, with associated feeder bays and transformer bays.<\/p>\n<p>Construction is expected to start in early 2019.<\/p>\n<p>The loan facility from AFD aims to support Eskom&#8217;s investment policy in strengthening its high-voltage electricity network, in order to ensure the integration of planned or under-construction renewable energy sources. This is in line with Eskom\u2019s Transmission Development Plan 2019-2028 (TDP) investment of R91 billion (EUR 5.5 billion) for the construction of 6,535 km of high voltage lines, and the installation of 45,900 MVA of additional transmission capacity.<\/p>\n<p>AFD is reviewing a number of project parts in Eskom\u2019s TDP for the subsequent tranches of the multi-tranche facility by 2020.<\/p>\n<\/div>\n<div>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/energy\/289822\/eskom-should-consider-selling-its-crown-jewels-firstrand\/\" target=\"_blank\" rel=\"noopener\">Eskom should consider selling its crown jewels: FirstRand<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Eskom and Agence Fran\u00e7aise de D\u00e9veloppement (AFD) on Thursday signed a R1.5 billion loan agreement to support the electricity utility\u2019s investments in extending and strengthening its power transmission grid along the west coast of South Africa.<\/p>\n","protected":false},"author":10,"featured_media":288044,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[1164,26],"class_list":["post-290944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-eskom","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/290944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=290944"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/290944\/revisions"}],"predecessor-version":[{"id":290952,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/290944\/revisions\/290952"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/288044"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=290944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=290944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=290944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}