Last week, President Cyril Ramaphosa revealed the Infrastructure Fund would provide a R100 billion in catalytic finance over the next decade.
Eskom’s Megawatt Park offices in Johannesburg on 12 March 2015. Picture: EWN
CAPE TOWN – Eskom on Thursday said it wanted to spend a R100 billion to expand its transmission grid over the next ten years.
The power utility has also established a wholly-owned transmission subsidiary.
This was revealed by Eskom CEO Andre de Ruyter, who briefed the media on the state of the system.
Last week, President Cyril Ramaphosa revealed the Infrastructure Fund would provide a R100 billion in catalytic finance over the next decade.
He said it would also leverage up to R1 trillion in new investment for strategic infrastructure projects.
De Ruyter said the company’s strategy would be aligned with the president’s recovery plan.
“We are going to have to spend in excess of R100 billion to strengthen and expand our transmission work in South Africa over the next 10 years. This is an opportunity for us because it allows us to add capacity and it also allows us to participate in government’s infrastructure development programme.”
He also indicated Eskom would step up maintenance as it decommissions outdated power plants.
“We have stepped up our reliability maintenance programme to the point where we now have some 14% of our units undergoing maintenance; and that is a very high number which is reflective of the seriousness with which we are tackling the reliability maintenance programme.”
__your iOS or Android device.
