South Africa will need to spend more than R1trn in the next 11 years to grow the country’s energy production capacity, according to Minister of Energy Jeff Radebe.
Radebe was speaking at the DLO Africa Power Roundtable on Tuesday in Johannesburg. The roundtable brings together government officials, investors and stakeholders in Africa’s energy sector to encourage investment.
“It is clear that Eskom alone cannot meet our power capacity requirements, because we estimate that the capacity extension under the IRP (integrated resource plan) will cost in excess of R1trn in the period up to 2030, including the new power plants, plus the requisite transmission and distribution infrastructure,” said Radebe.
The minister, speaking in the context of load shedding at Eskom and the difficulties the debt-laden power utility is experiencing in securing funding for new power stations, said municipalities should be encouraged to get their old or non-functioning power stations working again.
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