According to banks documents, the New Development Bank's (NDB) Project Finance Facility (PFF) is proposed to support the development of grid connection infrastructure. The project will also help increase electricity supply to the Soweto area.
With the objective to develop grid connection infrastructure, the NDB will provide a PFF loan of USD 180.0 million to Eskom Holdings State-Owned-Company Limited (Eskom). The grid connection infrastructure will be used for renewable energy projects and augmentation of the Eskom transmission network to the Soweto area.
The PFF project will be divided into sub-projects. Current sub-projects include integration of 7 renewable energy projects of independent power producers, integration of expedited independent power producer project for Upington, construction of transmission lines and substation for Soweto area, and construction of transmission lines for Ankerlig-Sterrekus. Future sub-projects will be proposed by Eskom, subject to selection criteria and approval from the NDB, to ensure alignment with the overall development objective of the project.
Contact information not provided at the time of disclosure