JOHANNESBURG (Reuters) – South Africa’s state power utility Eskom said in a presentation on Thursday that its transmission company will be operational by the first quarter of fiscal year 2025.
President Cyril Ramaphosa announced in 2019 that the debt-laden utility would be split into three divisions – generation, transmission and distribution – to improve management of a company that has relied heavily on government bail outs and frequently implements nationwide power cuts.
Eskom has implemented its worst-ever power cuts this year, largely due to breakdowns in its ageing coal-fired power plants.
The government energy committee aims to bring 21,000 megawatts (MW) of additional power online between 2023 and 2026. It will buy 3,400 MW from neighbouring countries by 2026, Eskom said in its presentation.
(Reporting by Promit Mukherjee; Writing by Nellie Peyton; Editing by Olivia Kumwenda-Mtambo)
