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South Africa Coal Utility Says Clean Transition Requires Public Money

  • Eskom CEO says up to $35 billion needed for energy transition
  • Government and development finance is key to decarbonization
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Eskom CEO Says Government Funding Is Key

South Africa’s coal-dependent power utility Eskom Holdings SOC Ltd. will rely on government and development finance for “the important” funding for a transition to cleaner sources of energy, according to its top official.    

The concessional lending will allow the company, which provides almost all of South Africa’s power, to accelerate a move away from the fossil fuel, Eskom Chief Executive Officer Andre de Ruyter said in an interview on Bloomberg Television.