Eskom CEO Lays Out Funding Plan to Transition Away From Coal (2)

July 30, 2021, 1:43 PM

Eskom Holdings SOC Ltd. Chief Executive Officer Andre de Ruyter laid out a funding plan to help the company, which generates the bulk of South Africa’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 $10 billion.

The utility is considering 8,017 megawatts of projects, ranging from wind power to ...

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