Photo by: Bloomberg
South Africa’s State-owned utility Eskom has, for some time, been working on a so-called Just Energy Transaction to help the company and the country navigate away from its coal dependence, while still supporting coal miners and communities that are vulnerable to such a transition. The utility has advanced its plans to a point where it is proposing a multi-tranche, multi-year facility, funded by a multi-lender syndicate that provides concessional funding for decarbonisation and social-protection projects on a “pay for performance” basis. Photograph: Bloomberg