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Eskom’s Chief Financial Officer, Calib Cassim, is set to address the Invest in Africa Energy (IAE) forum in Paris, reaffirming the South African utility’s commitment to modernizing and expanding its national energy infrastructure through collaboration with private investors and developers.
The IAE 2024 forum aims to bring together African and global investors for two days of networking and deal-making, showcasing Africa’s prominent energy opportunities. Eskom, South Africa’s primary energy supplier, seeks private investment to ensure the country’s energy security. South Africa has grappled with rolling blackouts since 2007, stemming from insufficient power supply and aging coal plant failures. Eskom estimates investment needs of approximately $21 billion over the next decade to enhance its transmission network and integrate new installed capacity, particularly from private renewable energy projects, into the national grid.
Organized by Energy Capital & Power, IAE 2024 is an exclusive platform fostering investment between African energy markets and global investors. Scheduled for May 14-15, 2024, in Paris, the event offers delegates opportunities for intensive engagement with industry experts, project developers, investors, and policymakers.
Eskom’s transmission grid currently faces a 14,000-km expansion backlog due to newly installed generation capacity in provinces like the Western Cape, Eastern Cape, and Northern Cape, driven by South Africa’s Renewable Energy Independent Power Producer Program (REIPPP). Consequently, the state utility has allocated nearly $1.4 billion for investment in two priority transmission programs. These programs include 46 ongoing expansion projects facilitating over 15,000 MW of generation capacity. Eskom is open to private sector involvement, particularly interested in a Build-Operate-Transfer model, where the government retains full grid ownership.
Sandra Jeque, Event and Project Director at IAE 2024 organizer Energy Capital & Power, highlights the significance of Eskom’s participation in the forum. She emphasizes IAE’s role as a vital platform for investment promotion and facilitation, noting global investors’ eagerness to contribute to Africa’s energy access goals in alignment with sustainability objectives. South Africa’s leadership in renewable energy development, exemplified by the REIPPP, underscores the nation’s need for private investment to bolster grid connectivity and revitalize the power sector. |
