The head of South Africa\u2019s state power utility held discussions with the World Bank as it explores options for transitioning from coal-fired stations to cleaner sources of energy.<\/p>\n
Eskom Holdings SOC Ltd chief executive officer Andre de Ruyter traveled to the bank\u2019s headquarters for the talks earlier this week.<\/p>\n
The utility supplies more than 90% of the country\u2019s electricity, the bulk of it from coal.<\/p>\n
\u201cThe Eskom CEO visit was part of ongoing engagement that the bank carries out with counterparts in-country and in Washington D.C., including on proposed projects,\u201d though none have been finalized, a spokesperson for the lender said in an emailed response to questions.The utility didn\u2019t immediately reply to an email seeking comment.<\/p>\n
The US, UK, France, Germany and the European Union pledged $8.5 billion to help South Africa reduce its reliance on coal at the COP26 climate summit in Glasgow in November, a deal that could serve as a prototype for helping other coal-dependent nations decarbonize.<\/p>\n
Details of how the funds will be used are still under discussion.<\/p>\n
The World Bank has supported earlier Eskom projects including granting it a $3.75 billion loan in 2010 for Medupi, a 4,764 megawatt coal-fired station. It\u2019s also administrating a $250 million loan from the Clean Technology Fund to finance a battery-storage program, the bank said in September.<\/p>\n