- Eskom Group Chief Executive, Andre de Ruyter, said there is “substantial concessional financing available” to enable South Africa to pursue a just energy transition from the climate envoys who visited South Africa recently.
- He was speaking at a webinar hosted by the University of Witwatersrand’s School of Economics and Finance last night.
- The finance, however, is not available to service Eskom’s debt.
“I think the general message is that there is substantial concessional financing available to enable South Africa to make this energy transition in a just manner and I have to stress that the climate envoys are as committed as we are to ensuring that this is a just transition,” said De Ruyter responding to a question.
He indicated, however, that the initial focus would likely be on supporting Eskom to build the infrastructure required for decarbonisation which could include building renewables generation capacity, the repurposing of decomisioned power stations to renewables and to expand South Africa’s transmission and distribution networks. The money can also be used to support vulnerable workers and communities exposed to the transition. The finance has not been offered to address Eskom’s debt which stands at around R400 million. Read more
The visit involved envoys from France, Germany, the UK, the US and the European Union and the discussions focused on opportunities for enhanced cooperation, financing and support for South Africa in light of its improved climate pledge ahead of Cope26. Read more
During the visit, the South African government proposed the establishment of a Just Transition Financing Facility, supported by concessional finance from developed countries, to enable ambitious climate action, while also addressing the social impacts of the transition.
Eskom has been stuck in place, lobbying against even the most rudimentary requirements to curb its SO2 pollution. The utility continually flouts carbon emission laws. As a result, the company has now become the worst SO2 emitting power company in the world. Eskom also emits more SO2 than the entire power sector of the EU and US, or the US and China, combined. Read more
Author: Bryan Groenendaal
The organisers of Enlit Africa have confirmed that Eskom Group Chief Executive André de Ruyter will once again be part of the opening session of the event on Tuesday morning, 26 October. The leading platform and discussion forum for the power and energy sector on the continent will specifically focus on how the UN Climate Change Conference (COP26), taking place in November, could provide the launchpad for Africa’s energy transition.