Eskom is in talks with government over private and foreign options to fund a huge expansion of its transmission network.
with government ministries over private and foreign options to fund a R390-billion expansion of its transmission network as more renewable generation comes online.
The company is holding “ongoing discussions with key government ministries on the funding of the South Africa’s transmission capital expenditure requirements” that include the potential use of money pledged by rich nations towards an energy transition and another option to tap private sources, the utility said in an e-mailed response to questions.
Foreign nations have pledged more than US$9-billion in climate financing to South Africa through the so-called Just Energy Transition Partnership in 2021. France, Germany, the US, UK and EU offered the money to help South Africa move away from coal, which is currently the source of more than 80% of the nation’s power.
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