State of Transition

The report examines the role of state-owned power companies (SPCs) in driving clean energy transitions within emerging markets. It highlights that while SPCs can advance energy security and socio-economic development, they often face significant debt and capital mobilization challenges. The document argues for a combination of visionary leadership, legal frameworks, shifted public finance from fossil fuels to clean energy, and innovative international financing tied to decarbonization progress. Through case studies of Eskom, NTPC, Vietnam Electricity (EVN), and Perusahaan Listrik Negara (PLN), the report analyzes specific transition elements including just energy transition, renewable energy deployment, grid integration, and coal plant retirement.

• State-owned power companies (SPCs) in emerging economies can utilize the energy transition to diversify business models and support national objectives regarding electrification, socio-economic development, and energy security.
• Effective energy transition requires governments to provide visionary leadership, establish necessary legal frameworks, and redirect public financial support away from fossil fuels toward clean energy.
• Due to high debt and capital mobilization difficulties facing SPCs in emerging economies, the international finance community should create innovative funding options that link fast disbursement to proven decarbonization progress.
• The report analyzes four specific SPC case studies: Eskom in South Africa regarding just energy transition, NTPC in India on renewable energy deployment, Vietnam Electricity (EVN) in Viet Nam on integrating renewable generation, and Perusahaan Listrik Negara (PLN) in Indonesia on the early retirement of coal power plants.

APA

Benoit,, R. H. D. G. S. S. B. (2025). State of Transition. International Institute for Sustainable Development. https://www.iisd.org/publications/report/state-power-companies-energy-transition

Chicago

Benoit,, Richard Halsey,Nhat Do,Siddharth Goel,Deepak Sharma,Anissa Suharsono,Christopher Beaton,Philippe. State of Transition. International Institute for Sustainable Development, 2025. https://www.iisd.org/publications/report/state-power-companies-energy-transition.

Wikipedia

{{cite report |last1=Benoit, |first1=Richard Halsey,Nhat Do,Siddharth Goel,Deepak Sharma,Anissa Suharsono,Christopher Beaton,Philippe |title=State of Transition |publisher=International Institute for Sustainable Development |date=8 July 2025 |url=https://www.iisd.org/publications/report/state-power-companies-energy-transition |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{benoit2025state, author = {Benoit,, Richard Halsey,Nhat Do,Siddharth Goel,Deepak Sharma,Anissa Suharsono,Christopher Beaton,Philippe}, title = {{State of Transition}}, institution = {International Institute for Sustainable Development}, year = {2025}, month = jul, url = {https://www.iisd.org/publications/report/state-power-companies-energy-transition}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }