South Africa is facing a monumental challenge as it seeks to end years of rolling electricity outages that have hobbled the economy: It needs to build and fund a R390 billion expansion of the national grid so it can connect more power plants.
Funding the expansion appears beyond Eskom’s reach. The company’s coffers were systematically looted during former President Jacob Zuma’s almost nine years in office and it amassed more than R400 billion in debt before the National Treasury stepped in with a conditional bailout that severely constrains the loss-making utility from taking on additional loans.
A vendor serves a customer in a store during a period of load shedding in Frankfort, South Africa. Image: Michele Spatari/Bloomberg Over recent years, several solar and wind plants constructed by private developers have been connected to the grid but link-ups in the areas best suited for such facilities have run out — an issue that needs to be resolved if the country is to meet its commitments to lower its greenhouse gas emissions.
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