The head of power utility Eskom - Andre de Ruyter held discussions with the World Bank as it explores options for transitioning from coal-fired stations to cleaner sources of energy. Moneyweb LoadShedding PowerCuts
The head of South Africa’s state power utility held discussions with the World Bank as it explores options for transitioning from coal-fired stations to cleaner sources of energy. Eskom Holdings SOC Ltd. Chief Executive Officer Andre de Ruyter traveled to the bank’s headquarters for the talks earlier this week. The power utility supplies more than 90% of the country’s electricity, the bulk of it from coal.
De Ruyter was expected to “meet the World Bank and have discussions about funding,” the energy transition and related projects the utility is working on, Eskom spokesman Sikonathi Mantshantsha said. No further details were provided. The US, UK, France, Germany and the European Union pledged $8.5 billion to help South Africa reduce its reliance on coal at the COP26 climate summit in Glasgow in November, a deal that could serve as a prototype for helping other coal-dependent nations decarbonise.
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