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South African state power utility Eskom launched a new business unit on Tuesday to focus exclusively on developing utility-scale renewable energy projects.
The new division, named Eskom Green, advances the utility’s long-term plan to build up to 32 gigawatts of clean energy capacity by 2040.
While Eskom still supplies the bulk of the country’s electricity from its fleet of mainly coal-fired power stations, this launch drives its strategic pivot toward green energy.
Eskom Green will initially operate within Eskom Holdings before transitioning into a wholly owned subsidiary.
The unit will target energy-intensive sectors like mining and manufacturing by offering contracts for renewable power backed by storage systems.
The division aims to add about six gigawatts of carbon-free power by 2030, based on a pipeline of projects in development.
The utility has already provisioned funding for the initial phases within its approved capital expenditure programme.
Eskom will further support the venture through on-balance sheet financing to ensure the pipeline’s development.
