Eskom Holdings SOC Ltd., South Africa’s state power utility, needs $10 billion to shut most of its coal-fired plants by 2050, a company official said.
The utility is in talks with development finance institutions to raise the money, the head of Eskom’s Just Energy Transition office, Mandy Rambharos, said by phone on Wednesday.
The power plants may be re-purposed and the sites used to produce power from renewable energy or natural gas, Rambharos has previously said.
Reuters, which reported the amount earlier, said the site of Komati power plant may be used to produce solar energy, which would be coupled with battery storage.
South Africa is the world’s 12th biggest emitter of greenhouse gases and Eskom accounts for twofifths of its emissions.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience in implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor in this space. Stuart has led the “Total Corporate Digital Integration” platform at Sandstone and works with Sandstone clients to help integrate all aspects of modern digital business. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage and is the Co-Host of the energy news video and Podcast Energy News Beat.
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