Overview

China Development Bank provides $500 million loan to Eskom for Medupi, Kusile, and Ingula Power Plants (Linked to Record ID#58385)

Commitments (Constant USD, 2023)$545,360,786

Commitment Year•2016Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 3, 2016

Start (actual): Dec 1, 2016

End (actual): Dec 1, 2016

Last repayment (originally scheduled): Oct 3, 2019

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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Specifications about the Matla Mine 1 Shaft and Medupi, Kusile, and Ingula Power Plants are available at http://globalenergyobservatory.org/geoid/46084. More detailed locational information can be found at: https://www.openstreetmap.org/way/374036050 and https://www.openstreetmap.org/way/702135640 and https://www.openstreetmap.org/way/849065020 and https://www.openstreetmap.org/way/1102717566

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

State-owned companies

Electricity Supply Organization (Eskom)

Guarantors

Government Agencies

Government of South Africa

Loan desecription

China Development Bank provides $500 million loan to Eskom for Medupi, Kusile, and Ingula Power Plants

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On October 3, 2016, China Development Bank and the Electricity Supply Commission (Eskom) — South Africa's state-owned electric power company — signed a $500 million loan agreement. The South African government-guaranteed loan was payable three years after the date the loan agreement was signed. Its interest rate is unknown. The proceeds of the loan were intended to support Eskom’s capital expansion program, including the Medupi, Kusile, and Ingula power plants and the Matla mine 1 shaft relocation. The loan fully disbursed in December 2016. Medupi is a coal-fired power plant with a capacity of 4764MW, Kusile is a coal-fired power plant with a capacity of 4800MW, and Ingula is a pumped-storage hydroelectric power plant with a capacity of 1332MW. As of 2018, the Ingula Plant was fully operational, but the Medupi and Kusile Plants were still under construction.

Staff comments

1. In 2017, CDB provided an additional $1.5 billion loan to Eskom for the Medupi Power Plant, which is captured via Record ID#58385.