Eskom considering taking climate funds as equity injection

[Jan]

Eskom considers taking R127 billion green energy funding as equity injection

South Africa’s state power company is planning to propose that some of the funding the country secured to help tackle climate change take the form of loans to the government that could be converted to equity in the utility when needed.

The arrangement would enable Eskom Holdings SOC Ltd. to access the $8.5 billion pledged by the U.S., U.K., Germany, France and the European Union without adding to its debt burden, a person familiar with the proposal said.

 

[dualmeister]

The company wants to use the money to fund the closing of some coal-fired power plants and the construction of renewable-energy facilities to replace them.

What are the chanced that this will actually happen?
They don't fool us anymore

 

[Jet-Fighter7700]

another ANC slush fund?
are we gonna build a Statue of gwede that spews Smoke from its mouth?

 

[Flashgear]

*Eskom plans on stealing green energy funding*

Voetsek.

 

[SilverCode]

Or, you know, just use the money as it was intended and build as much renewable energy as you can in as short a period as you can.

Then you can stop using the OCGT to prop up your Kusile and Medupi disasters and burning incredibly expensive gas that is only going to get more expensive.

Then take the money you are saving on gas and use it to pay down your debt so creditors start having faith in you again and are willing to lend you money again.

Then when you are on the road to recovery and you balance sheet is looking more ... balanced ... start expansion projects that require you taking on more debt.

By then hopefully power generation will be somewhat privatised, and you can sell Medupi and Kusile to Chancellor House so the architects of that abomination can deal with it and you can use the money from the sale (and ongoing repair costs) to invest in a smallish non-Russian Nuclear plant to help provide a more stable base load.

 

[TPM]

NO... clawback the billions stolen and charge those that orchestrated this rot.
Elect more competent, ethical and qualified people

 

[system32]

Don't see why $8.5 billion should go to Eskom who've proved to be corrupt and big polluters with little desire to improve themselves.

Eskom seeks to break terms of $3.75 billion World Bank loan to avoid spending on emission cuts​

Eskom seeks to break terms of $3.75 billion World Bank loan to avoid spending on emission cuts | Business

Eskom is seeking to have the terms of a $3.75 billion World Bank loan changed to avoid spending money to cut emissions from one of its largest power plants.

www.news24.com

 

[trenton]

How about, are fking nuts?

 

[Mike Hoxbig]

Fck off. This money was given to the country, not you. The conditions should have been to fund renewable projects by everyone except Eskom. These countries never learn about giving money to the ANC...

 

[Corelli]

Rather give it to households with discount on solar heaters and solar panels. It will go much further than waste it on Eskom that upto now hasnt added any new clean energy onto the grid. Yip none.

Its better spent elsewhere. Imagine if everyone switches to solar geysers and solar panels for lights. How much less we would be reliant on Eskom