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Eskom seeks partners for $71 billion energy transition plan

  • 1 year, 9 months ago (2022-07-28)
  • David Flin
Africa 303 Coal 278 Emissions 60

Eskom of South Africa said that its energy transition plan may require $71 billion of investment, with the bulk of the money, up to $60 billion, coming from private investors. It hopes that this will be achieved by 2030, enabling it to increase generation capacity and shift to cleaner energy sources.

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Matthew Mflathelwa, General Manager for Strategy and Planning with Eskom, said that Eskom needs the financing to extend the life of its existing infrastructure, while building new generation facilities. “Eskom cannot afford all of it on its own. We would require a partnership of some kind, whether it is at a multinational or institutional level. These details need to be worked out.”

Mflathelwa also said that Eskom needs $13 billion to improve its air quality over the next decade. He said that stricter enforcement of laws on air quality could result in 16 000 MW of Eskom generation being taken off the grid.