A solar power project in South Africa is getting a major boost as the EU bank is providing funding worth R1.4 billion (£77m).
The 100MW Ka Xu Concentrating Solar Power (CSP) plant, located in the Northern Cape, will have an integrated storage system which can store excess energy during off-peak hours and dispatch it when needed.
CSP technology is similar to conventional power plants in that steam is used to power a turbine and generator however the fossil fuel combustion is replaced with non-polluting solar energy.
The European Investment Bank (EIB) has signed a contract with the Development Bank of Southern Africa (DBSA) to provide the financial support.
The EIB said: “The DBSA is confident this investment in the renewable energy programme will have a positive contribution towards efforts to minimise adverse impact of energy generation on the environment and in particular on climate change.”