The World Bank said it will support South Africa\u2019s transition to using cleaner forms of energy with a $1 billion (R19.19 billion) loan.<\/p>\n
The funding will help facilitate \u201crestructuring of the power sector\u201d through the unbundling of state-owned utility Eskom Holdings SOC Ltd., the lender said in a statement on Wednesday.<\/p>\n
\u201cIt supports the opening of the power market and aims at improving Eskom\u2019s efficiency by redirecting its resources toward investments in transmission and maintenance of existing power plants.\u201d<\/p>\n
South Africa, which depends on coal to generate most of its electricity, has been hit by regular power cuts because Eskom\u2019s plants are old and unreliable.<\/p>\n
Splitting the utility into separate generation, transmission and distribution businesses is aimed at restoring the company to profitability and adding more private producers to the grid.<\/p>\n
The World Bank said it will also support \u201ca low-carbon transition by encouraging private investment in renewable energy, including by households and small businesses, and strengthening carbon pricing instruments.\u201d<\/p>\n
The World Bank said it will support South Africa\u2019s transition to using cleaner forms of energy with a $1 billion (R19.19 billion) loan.\u00a0<\/p>\n","protected":false},"author":341034,"featured_media":476833,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[27995],"tags":[181,62798,15818,1573,20631],"class_list":["post-512654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-eskom","tag-eskom-unbundling","tag-loans","tag-renewable-energy","tag-world-bank"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/512654"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=512654"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/512654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/476833"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=512654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=512654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=512654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}