ESKOM, South Africa’s state-owned power utility, was in talks with lenders in an effort to raise $10bn it needs to shut its coal-fired power stations by 2050.
The power plants may be re-purposed and the sites used to produce power from renewable energy or natural gas, Rambharos has previously said.
Reuters, which reported the amount earlier, said the site of Komati power plant may be used to produce solar energy, which would be coupled with battery storage.
South Africa is the world’s 12th biggest emitter of greenhouse gases and Eskom accounts for two-fifths of its emissions, said Bloomberg News.
In May, Eskom said it had reduced its debt by nearly 20% after paying matured loans whilst also benefiting from a more favourable exchange rate. Debt fell to R401bn at the end of March from R488bn a year earlier.
Eskom had also achieved savings of R13.5bn over the financial year. For the current financial year, 15% tariff increase granted by the National Energy Regulator of SA (Nersa) would assist the company in reaching sustainability, it said.
