Eskom CFO Calib Cassim will speak at the upcoming Invest in Africa Energy (IAE) forum in Paris, affirming the South African utility’s commitment to upgrading and expanding its national energy infrastructure with the participation of private investors and developers.
Uniting African and global investors for two days of networking and dealmaking, IAE 2024 will showcase Africa’s leading energy prospects. Eskom – South Africa’s main energy supplier – is seeking private investment to guarantee energy security for the country, which has faced rolling blackouts since 2007 due to insufficient power supply and generation failures of aging coal plants. The utility has estimated investment requirements at around $21 billion over the next decade to upgrade its current transmission network, as well as connect new installed capacity – particularly from private renewable energy projects – to the national grid.
Organized by Energy Capital & Power, IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors, and policymakers.
Eskom’s transmission grid currently has a 14,000-km expansion backlog due to newly installed generation capacity developed in the Western Cape, Eastern Cape, and Northern Cape provinces, incentivized by the country’s Renewable Energy Independent Power Producer Program (REIPPP). As a result, the state utility has approved nearly $1.4 billion to be invested in two priority programs targeting transmission projects, including 46 expansion projects currently underway that will enable over 15,000 MW of generation capacity. In terms of private sector participation, Eskom is interested in a Build-Operate-Transfer model, whereby the government will retain full grid ownership.
“The participation of Africa’s largest electricity producer at IAE 2024 speaks to the forum’s role as a key investment promotion and facilitation platform. Global investors are hungry to deliver energy access to Africa, especially in a way that supports and aligns with global sustainability goals. South Africa represents a regional leader in renewable energy development through its flagship REIPPP – now it needs private investment to connect new capacity to the grid and rehabilitate its power sector,” says Sandra Jeque, Event and Project Director at IAE 2024 organizer, Energy Capital & Power.
