The utility is waiting for government approval of its plan to raise R45-billion to R50-billion over the next three years, Paul O’Flaherty, Eskom’s finance director, told Reuters on the sidelines of a parliamentary briefing.
From Engineering News
“South African power utility Eskom aims to issue bonds in the United States and Europe this year as part of a plan to raise up to $6,9-billion over the next three years, a top executive said on Tuesday. Eskom, which uses mainly coal-fired power stations to supply most of the power to Africa’s largest economy, needs funding for a planned multi-billion dollar programme to help alleviate chronic power shortages.
“We will be looking at the US and European bond markets where we think there is a lot of appetite for Eskom,” he said. “We will have to work out when the market appetite is at its best, but it should be this calendar year. That’s our intent.” “
I have an idea, why don’t we sell our infrastructure to Europe and America? Brilliant! Why would we need it ourselves.
Well done Eskom for managing your (and our) resources so effectively.