Koko: Eskom is open for business, seals deal to sell electricity | Fin24
  • Solly Moeng

    Give business owners a reason to stay in South Africa.

  • Pravin Gordhan

    The minister says SA is paying more for electricity because of theft at Medupi and Kusile.

  • Keep Flying the Flag

    The ANC says the state must keep a 'restructured' SAA as a national airline.


Koko: Eskom is open for business, seals deal to sell electricity

Mar 23 2017 17:47

Cape Town - Eskom has turned around and open for business with surplus capacity available, said acting chief executive Matshela Koko as the power utility clinched a deal with NamPower.

"Eskom today signed a five year firm electricity sales agreement with Namibia’s national electricity utility NamPower, at the 42nd Southern African Power Pool (SAPP) executive committee meeting in Maseru, Lesotho," it announced in a statement on Thursday.

NamPower and Eskom have enjoyed a healthy relationship through their bilateral agreements over the years.

Eskom said the new agreement is testimony to the long history of power trading between the sister utilities and also illustrates Eskom’s commitment to powering the development of the SADC region.

“Eskom has turned around and we are now open for business with surplus capacity available to empower economic growth," said Koko.

"This agreement provides energy security to Namibia and allows for economic development and growth in the country without electricity availability concerns.”

NamPower general manager of energy trading BJ Mbuere ua Mbuere said the utility has entered into a number of power purchase agreements (PPAs), of which the biggest import portfolio is with Eskom through this new bilateral agreement.

"Currently, NamPower has concluded a number of projects to establish renewable energy projects in Namibia and to enhance its local production.

Koko said Eskom stands ready to supply electricity to the region, allowing the growth of our economies, creating an increased demand for electricity, which in turn will stimulate the regional power generation sector.

Eskom intends to conclude agreements with other SAPP members before the end of the month. Long-term agreements are already in place with LEC of Lesotho and SEC of Swaziland.

Read Fin24's top stories trending on Twitter:

eskom  |  namibia  |  electricity


Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote