Eskom, the state-owned utility of South Africa, is holding talks with the government on ways to attract public and private financing of the equivalent of $21 billion for a major expansion of the power grid
to accommodate an expected rise in renewable energy, the company told Bloomberg on Friday. Eskom has estimated that it needs $21 billion 390 billion South Africa n rand to fund its plan to build nearly 9,000 miles of new power lines over the next decade, which would be more than triple the miles of transmission lines it has installed in the past decade. Currently, coal is the major energy source for South Africa , accounting for around 80 percent of the country’s energy mix.
Eskom is currently in “ongoing discussions with key government ministries on the funding of the South Africa’s transmission capital-expenditure requirements,” the company told Bloomberg via email in response to queries. Some of the money could come from the so-called Just Transition plan that wealthy nations have pledged to back with funding, according to Eskom. The state firm is also considering tapping private funding, it said. The U.S.
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