• Inside Labour

    A smokescreen of misleading rhetoric won't make SA's problems go away, says Terry Bell.

  • Singapore shows the way

    SA badly needs leaders like the man who turned Singapore around, says Leopold Scholtz.

  • Israeli high-tech flies

    There is rising demand for the country’s high-tech products, says Arthur Goldstuck.

Loading...
See More

Eskom's funding to 2017 finalised

May 16 2012 17:36 I-Net Bridge

Related Articles

SA battles to keep blackouts at bay

Medupi contractors blast Eskom

Eskom commits to training welders

Copper theft rising - Sacci

Medupi to generate power in 2013

Eskom helps homes save power

 
Cape Town - Eskom's funding plan to 2017 has been finalised and the electricity generation group will spend R201.6bn over the period with R65bn budgeted for this year, said Public Enterprises Minister Malusi Gigaba.

Presenting his budget vote speech in parliament on Wednesday, Gigaba said that government had approved the increase of Eskom's domestic borrowing programme from R65bn to R100bn to fund the approved build programme.

During the 2011/12 financial year, Eskom was able to secure a total of $615m funding for its Renewables Energy prorammes from the African Development Bank, the Clean Technology Fund and the World Bank.

In the current financial year, 260 MW is to be added to the electricity transmission system with another 894 MW added in 2013, when the first unit of the Medupi power station comes on line.

Gigaba said that 915 kilometers of the transmission network from that power station would be installed next year.

He warned that electricity supply constraints would continue until Medupi becomes operational.

"In the midst of the constraints we have been experiencing, I am delighted to announce that Eskom will in June this year conduct a pressure testing exercise on the first boiler at Medupi which will be a key milestone of the process to ensure delivery of the unit by 2013," Gigaba said.

He also said that a strategy had been approved to keep the lights on which consists of volountary energy conservation schemes involving Eskom's big customers; short-term power buy-back programme to secure more than 1 000 MW of power savings; and the energy savings pledge signed by all state-owned companies in his portfolio.
malusi gigaba  |  eskom  |  funding

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote

Loading...