Nyati: Eskom to participate in renewables & green energy

Eskom, South Africa's state-owned electricity public utility, is embarking on a journey towards a future where renewable energies and artificial intelligence play a significant role in the country's energy sector. In a recent interview with CNBC Africa, Mteto Nyati, the Chairman of Eskom, discussed the company's vision for the future and how it plans to transition towards a more sustainable and technologically advanced energy landscape. Nyati highlighted Eskom's focus on transmission, distribution, and generation, outlining the key priorities for each sector. The company aims to enhance its infrastructure to support the integration of renewable energy sources and leverage artificial intelligence to improve efficiency and customer service. Transmission is identified as a top priority for Eskom, as it plays a crucial role in enabling the participation of various energy stakeholders. Nyati emphasized the importance of upgrading the transmission network to accommodate the influx of power from renewable sources. He highlighted the company's plans to enhance the distribution sector by obtaining licenses to operate independently and establish a standalone distribution company by the end of next year. On the generation front, Nyati outlined Eskom's vision to move away from solely relying on coal-fired power stations towards actively participating in renewable energy projects. The company plans to explore opportunities in gas, solar PV, hydro, and wind energy generation. Nyati mentioned the allocation targets for different energy sources, including gas and solar PV, indicating Eskom's ambition to significantly increase its renewable energy capacity. Addressing the issue of coal and the transition to renewables, Nyati stressed the importance of maintaining a clear baseload while gradually phasing out coal-fired power stations. He emphasized the need for efficient fossil fuel use and highlighted Eskom's plans to incorporate nuclear and renewable energy sources as part of its future energy mix. Nyati mentioned the company's intent to explore mini nuclear power stations to support its energy generation. In terms of artificial intelligence, Nyati acknowledged the transformative potential of AI in enhancing operational efficiency and customer service. He discussed the various applications of AI within Eskom, including customer service management, predictive maintenance, and security. Nyati emphasized the company's focus on leveraging technology to drive innovation and improve overall performance. When questioned about Eskom's profitability, Nyati expressed confidence in the company's ability to reduce losses and move towards profitability in the coming years. He outlined strategies to cut costs, increase revenue, and lower interest charges to improve the company's financial standing. Nyati also provided insights into Eskom's winter preparedness, hinting at a better winter performance compared to the previous year. Overall, Nyati's interview shed light on Eskom's ambitious plans to embrace renewable energy sources, leverage artificial intelligence, and enhance operational efficiency to secure a sustainable and prosperous future for the company and the South African energy sector.