Eskom Seeks $21 Billion for Power Grid Upgrade.
Eskom, South Africa’s state-owned power company, is on the hunt for investors.
Their CFO, Calib Cassim, will be attending the Invest in African Energy forum (IAE 2024) in Paris to secure $21 billion over the next decade.
The Problem: Power Outages and Aging Infrastructure
South Africa has battled rolling blackouts since 2007 due to a lack of power generation capacity and failing coal plants. Eskom’s current transmission network is overloaded, with a backlog of 14,000 kilometers in expansion needed to connect new renewable energy projects.
The Solution: Private Investment in Grid Expansion
Eskom is seeking private investment to upgrade its transmission network and integrate new renewable energy sources into the national grid. They’re proposing a Build-Operate-Transfer model, where the government retains ownership but private companies finance and build the infrastructure.
The Opportunity: Invest in Africa’s Energy Future
The IAE 2024 conference offers a platform for investors to connect with energy experts, project developers, and policymakers. This is a chance to be part of Africa’s renewable energy development and contribute to the continent’s energy security.
Key Points:
- Eskom needs $21 billion for grid upgrades.
- Investment will help address power outages and integrate renewable energy.
- IAE 2024 connects investors with African energy opportunities
