Eskom considers taking R127 billion green energy funding as equity injection

The arrangement would enable Eskom Holdings SOC Ltd. to access the $8.5 billion pledged by the U.S., U.K., Germany, France and the European Union without adding to its debt burden, a person familiar with the proposal said.

Eskom has a proposed pipeline of almost 200 billion rand of renewable energy, gas and battery storage projects and needs to spend at least 120 billion rand on transmission lines. Eskom’s ability to transition away from coal, which it uses to supply more than 80% of South Africa’s power, is key to meeting the country’s ambitions to slash its greenhouse gas emissions, the 13th-largest in the world.

Eskom referred questions to the presidency and the National Treasury didn’t immediately respond to a request for comment.

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