State-owned power utility Eskom on Tuesday launched a new business unit focused on developing utility-scale renewable energy projects.
The unit is part of Eskom’s plans to have up to 32 gigawatts of renewable energy capacity by 2040.
A former state monopoly, Eskom still supplies the bulk of the electricity in Africa’s biggest economy from its fleet of mainly coal-fired power stations.
It previously announced plans to pivot to mainly clean energy sources by 2040.
Eskom Green will later be spun off
Eskom Green will operate within Eskom Holdings before being separated into a wholly-owned subsidiary with an independent board, the utility said in a statement.
It will target energy-intensive sectors such as mining and manufacturing, offering contracts for renewable power backed by storage.
It aims to have about six gigawatts of carbon-free electricity available up to 2030, drawing on a pipeline of renewable energy and storage projects under development.
Funding for the initial phases has been provisioned within Eskom’s approved capital expenditure programme and will be supported through on-balance sheet funding, Eskom said.
Read more: SA’s beneficiation drive hinges on fixing Eskom and infrastructure – trade expert
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- Eskom has launched a new business unit called Eskom Green to develop utility-scale renewable energy projects.
- Eskom aims to achieve up to 32 gigawatts of renewable energy capacity by 2040, shifting from its current coal-based power generation.
- Eskom Green will initially operate within Eskom Holdings before becoming a wholly-owned subsidiary with an independent board.
- The unit will focus on providing renewable energy with storage to energy-intensive sectors like mining and manufacturing, targeting around 6 gigawatts of carbon-free electricity by 2030.
- Funding for Eskom Green’s initial projects is included in Eskom’s approved capital expenditure and will utilize on-balance sheet financing.
State-owned power utility Eskom on Tuesday launched a new business unit focused on developing utility-scale renewable energy projects.
A former state monopoly, Eskom still supplies the bulk of the electricity in Africa's biggest economy from its fleet of mainly coal-fired power stations.
It previously announced plans to pivot to mainly clean energy sources by 2040.
Eskom Green will operate within Eskom
It will target energy-intensive sectors such as mining and manufacturing, offering contracts for renewable power backed by storage.
It aims to have about six gigawatts of carbon-free electricity available up to 2030, drawing on a pipeline of renewable energy and storage projects under development.
Read more: SA’s beneficiation drive hinges on fixing Eskom and infrastructure – trade expert
