Eskom to use loan to fund pumped-storage hydro plant, other power projects

South Africa’s government said it will invest 20 billion rand (US$2.9 billion) into Eskom Holdings Ltd. to help the South Africa utility fund increased power generating capacity, Bloomberg reported.

The loan will fund new power projects, including a pumped-storage hydro plant, wire reports indicate.

The loan will help fund the utility’s 12,300-MW expansion program, designed to ease power shortages that saw rolling blackouts hit the country in 2008, the company said.

Eskom said the loan would help develop a pumped-storage hydroelectric project and two coal-fired power stations.

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