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Resource Minister Mantashe Pours Cold Water on Eskom's R180bn Green Dream

SOUTH AFRICA
  • Mineral resources & Energy Min Mantashe says he does not share Eskom's enthusiasm for shutting down coal power plants and replacing them with renewable ones, because it is a strategy akin to economic suicide.
  • Eskom CEO de Ruyter has set his sights on a "just transition" transaction for Eskom in which some of its coal-fired plants are retired earlier than the timetable contained in the Integrated Resource Plan, and replaced with 7,400MW of newly built renewable energy.
  • De Ruyter hopes to raise R180bn in concessional finance but will need the government to do so — in particular, support from the Treasury which is currently keeping the reins tight on the fiscal side - especially with regard to SOEs - Business Day
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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