South Africa: State to Take on Eskom Debt with Conditionalities

It is largely due to the tenacity of Minister Gwede Mantashe, his common-sense and commitment to refusing to bow down to the renewables lobby that Treasury under Ramaphosa is now seeing the light. Eskom is Everything to the South African economy.

Minister Gwede Mantashe, responsible for saving South Africa`s industrial capacity

re posted from                      NEWS 24

“But Godongwana believes the problem lies beyond these renewable energy project delays, saying there are “old technologies” that can provide SA with reliable electricity. These include “some nuclear” and “some gas”.

“Any mention of those is attacked by the green energy groups and the environmentalists,”

Eskom debt takeover: Godongwana says gas, nuclear will be part of conditions

Londiwe Buthelezi, 1 November 2022

Finance Minister Enoch Godongwana says government’s commitment to take on between a third and two-thirds of Eskom’s R400 billion debt will come with conditions – including that the utility invests in gas and nuclear power.

On Monday, he addressed the South African Chamber of Commerce and Industry (Sacci), saying that South Africa needs more reliable power sources, gas and nuclear included.

On the sidelines of the event, he said that Treasury’s agreement to take on some of Eskom’s debt comes with certain conditions, which include bringing these “old reliable technologies” into SA’s energy mix.

“When I’m saying I’m going to take the debt, I’m going to have conditions precedent, which will make sure that Eskom makes certain undertakings before I take the debt,” he said.

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One thought on “South Africa: State to Take on Eskom Debt with Conditionalities

  1. We meet to Fix coal fleet, build nuclear . Keep coal for stable baseload . Increase renewables – way of using carbon credit and beneficial from a trade risk perspective. Balance in the mix.

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