Utility is considering 8,017MW of projects, ranging from wind power to solar, hydropower and gas, CEO says
Eskom CEO Andre de Ruyter laid out a funding plan to help the company, which generates the bulk of SA’s power from coal, transition away from the use of the dirtiest fossil fuel.
De Ruyter said the company is proposing a multi-lender loan facility from development finance institutions that would be paid out in segments over a number of years. Mandy Rambharos, the head of Eskom’s just energy transition department, has previously said the transition could cost $10bn . The utility is considering 8,017MW of projects, ranging from wind power to solar, hydropower and gas, he said in a presentation to the Presidential Climate Commission on Friday. The Komati coal-fired power plant will be the first to be switched and serve as a pilot project for the conversion of a number of other facilities.
Eskom and SA are under pressure to cut emissions of greenhouse gases and other pollutants as parts of the country are among the world’s most-polluted and the utility accounts for about two-fifths of the country’s emissions. SA is the world’s 12th-biggest emitter of the climate-warming gases. The funding will be advanced on a “pay-for-performance” basis and will be paid out as projects progress, he said.
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