South Africa: AfDB provides finance for XiNa CSP project

The African Development Bank (AfDB) has agreed a senior loan worth $142m for the 100MW XiNa Solar One concentrated solar power (CSP) project. The loan includes $41.5m concessional finance from the Clean Technology Fund and will be the first independent power producer financed by the AfDB in South Africa. Finance for the $908m project is also being provided by other development finance institutions, including R500m ($47m) from the International Finance Corporation, and three South African commercial banks.