Eskom’s Chief Financial Officer (CFO) is slated to lead discussions at the upcoming Invest in Africa Energy (IAE) forum in Paris, reinforcing the utility’s dedication to fortifying South Africa’s energy landscape through strategic collaborations with private investors.
Set for May 14-15, 2024, the IAE forum serves as a pivotal platform for fostering cooperation between African energy markets and global investors. Against the backdrop of South Africa’s enduring energy challenges, marked by recurring blackouts and aging infrastructure, Eskom is actively seeking investment to modernize and expand the nation’s energy infrastructure.
With an estimated investment requirement of $21 billion over the next decade, Eskom aims to enhance its transmission network and integrate renewable energy projects into the national grid. The utility’s transmission grid is undergoing significant transformation, necessitating expansion projects to accommodate increased capacity from renewable sources across various provinces.
To meet this demand, Eskom has allocated approximately $1.4 billion for priority transmission programs, with a focus on engaging the private sector through models like Build-Operate-Transfer, aimed at improving grid efficiency while retaining government ownership.
Organized by Energy Capital & Power, the IAE 2024 forum provides a unique platform for delegates to engage with industry leaders, project developers, and policymakers. Sandra Jeque, the Event and Project Director, underscores Eskom’s pivotal role in catalyzing investment momentum and advancing Africa’s energy access goals in line with sustainability objectives.
South Africa’s Renewable Energy Independent Power Producer Program (REIPPP) exemplifies the nation’s commitment to renewable energy development and underscores the need for private investment to drive grid connectivity and revitalize the power sector.
As Eskom’s CFO prepares to address the IAE forum, the focus is on South Africa’s energy future, poised for strategic partnerships and dialogue to unlock sustainable energy solutions across the continent.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
14th March, 2024
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