JOHANNESBURG - New Development Bank (NDB), also known as the Brics bank, is to loan Eskom US$180 (about R2.57 billion) to build transmission lines to connect 500MW of renewable energy from Independent Power Producers to the national grid.
This would reduce the country’s global-warming carbon emissions by two million tonnes a year, an NDB spokesperson said.
The NDB announced this week that its board of directors, meeting in Washington, had approved its first set of loans, totalling US$811 million, to be disbursed in tranches, supporting 2 370 MW of renewable energy capacity.
Brics is an economic and political bloc comprising five emerging countries – Brazil, Russia, India, China and South Africa.
