The US, Germany, France and the UK will send a delegation to South Africa as soon as next week to seek a deal to begin closing the country’s coal-fired plants.
Browsing: Energy and sustainability
FirstRand will end funding for new coal-fired power stations and coal mines and has lowered the cap on its coal exposure as part of moves to reach net-zero emissions by 2050, it said on Wednesday.
Energy regulator Nersa has kicked a hard discussion about a licence for the controversial electricity generator down the road.
Despite efforts to make Eskom profitable, including a process of unbundling its divisions into separate entities, “the core problem of debt” has yet to be addressed, Futuregrowth Asset Management has said.
David Masondo, South Africa’s deputy finance minister, has suggested that investors forgive R146-billion of sovereign debt in exchange for Eskom meeting climate targets.
Eskom, South Africa’s biggest emitter of greenhouse gases, is evaluating the use of carbon capture at power plants as part of decarbonisation plans to transform the coal-burning utility.
South Africa faces “another era of isolation” if it persists with coal power generation, the CEO of Eskom said, arguing a pivot to cleaner energy would boost the competitiveness of the country’s exports.
Eskom is starting a pilot programme to allow businesses to buy green power. It gives businesses a mechanism to purchase clean energy from the utility without having to own a renewable energy generator.
Unit 1 at the Koeberg nuclear power station near Cape Town tripped on Monday, but Eskom – which operates the facility – said there is no reason for concern about safety.
Eskom has posted a fourth consecutive annual loss as it continued to service a mountain of debt, repaired ageing plants and lost electricity revenue because of a drop in demand.