Eskom’s green funding can open the door for another R390bn, says RMB
RMB CEO James Formby says the $8.5bn green deal for Eskom announced at COP26 could attract three times that amount in additional debt funding
The $8.5bn (R130bn) financing package to help Eskom move its power generation fleet to a less carbon-intensive system could “crowd in” R390bn more in local and foreign capital to help revolutionise SA’s rapidly failing electricity grid, RMB says.
Eskom’s green financing package was announced on November 2 at COP26 in Glasgow, Scotland, where world leaders gathered to discuss how to reduce carbon emissions to mitigate the effects of climate change. The $8.5bn deal for Eskom will see SA, the UK, the US, France, Germany and the EU team up in a transaction that is expected to serve as a template for other emerging markets...