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Eskom’s future is renewable energy – CEO

Eskom’s future is renewable energy – CEO

Eskom CEO Andre de Ruyter told CNBC Africa the company is transitioning to new energy sources like solar and wind power. Eskom has come under fire for flouting environmental laws with the pollution from its ageing coal-powered stations. De Ruyter said it will cost Eskom R60 billion over the next decade to make its power fleet environmentally complaint. “This is money which we frankly just don’t have,” De Ruyter said.

He recognised that Eskom cannot continue to violate environmental laws, which provides them with an opportunity to move to cleaner energy. This change requires certain regulatory approvals, and Eskom is engaging with the government about these changes.

The Eskom CEO added that the challenges at the company also provides it with an opportunity to attract investments. He said private investors have expressed interest in supporting South Africa’s move to renewable energy. Organisations like the World Bank, European Investment Bank, and others are keen to support and accelerated rollout of decarbonized, low-carbon, and no-carbon electricity generation.

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Source: Myboradband

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