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ICD and US bank agree on R16bl green energy loan

20 Aug 2012

According to ESI-Africa.com, the Export-Import bank of the United States and the Industrial Development Corporation of South Africa (IDC) have signed a R16bl declaration of intent to help advance the country's green energy sector and bolster the government's renewable energy policy set out in the Integrated Resource Plan (IRP). The 18 year term loan deal will be tied to specific US exports of both goods and services and will ensure diversity of power supplies.

South Africa plans to double its power supply by adding more than 50 000 MW to the country's grid, much of which is planned to come from green renewable energy sources, ESI-Africa.com says.

Read the full article on www.esi-africa.com.