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AfDB approves $57.67m loan for Eskom battery storage project

19th November 2021

By: Tasneem Bulbulia

Deputy Editor Online

     

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T

he African Development Bank (AfDB) has approved a $57.67-million loan to State-owned Eskom to harness battery storage technology, which will increase electricity generation from reliable and efficient renewable-energy sources.

The funding, a concessional loan, will come from the Clean Technology Fund – a multidonor trust fund under the Climate Investment Funds.

Eskom’s pioneering Battery Energy Storage Systems project is being co-financed with the World Bank and the New Development Bank.

The project involves the development of 200 MW of battery storage with four hours of energy storage capacity daily, or 800 MW in total, at seven sites in the Western Cape, the Northern Cape, the Eastern Cape and KwaZulu-Natal.

Once the project comes on stream, Eskom will be able to dispatch electricity from variable renewable technologies that would otherwise have been wasted, reducing reliance on fossil fuel-generated electricity at peak times of the day.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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