CDB signs $2.5bn Eskom loan for Kusile power station

South African electricity group Eskom has signed a ZAR33.4 billion ($2.5 billion) loan with China Development Bank to finance the construction of the Kusile power project. Once complete, the coal-powered power station - which has been under construction since 2008 - will have an output of 4,800MW. The loan comes as global financiers such as the World Bank had said they would no longer be funding coal power projects, as they have shifted their focus to renewable energy.