Eskom recently reported a loss of R9,7-billion for the year. Shocked? There are many power build capital expansion programmes on the way and Eskom estimated that it would require some R385-billion over the next five years. Maroga, Chief Executive Officer at Eskom, said that this capital would go to the bigger committed project already under way, these are the Medupi and Kusile coal-fired projects, as well as the Ingula pumped-storage project.
But where will the finances come from?
The World Bank is to expedite a $3,75-billion loan for Eskom. The loan is intended to help the state-owned utility with a critical $51,4-billion power supply expansion to enable it to meet fast-rising demand. The bulk of the loan (some $3-billion) will go to developing the Medupi coal-fired power station, a 4 800 MW plant. Another $260-million will go toward developing renewable energy sources such as wind and solar power, and $490-million for low-carbon energy components such as road to rail coal transportation and power plant efficiency improvements.
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