Embattled power utility Eskom has announced the return of load shedding from Monday morning. This follows the suspension of rolling power outages over the weekend.
“Stage 2 load shedding will be implemented from 05:00 on Monday until 05:00 on Tuesday. Stage 2 load shedding will then be implemented during evening peaks on Tuesday and Wednesday.”
Eskom will publish a further update on Wednesday afternoon, or as soon as there are any significant changes.
Since yesterday afternoon, a unit each at Tutuka and Matimba power stations were taken offline for repairs. A unit each at Kendal, Kusile, Matla and Tutuka power stations were returned to service.
The utility currently has 4,886MW on planned maintenance, while another 13,792MW of capacity is unavailable due to breakdowns.
Meanwhile, despite the debt takeover by the National Treasury being unknown yet, finance minister Enoch Godongwana said it would be between one-to two-thirds of total debt, giving a range of R130 billion to R260 billion.
Duncan Pieterse, the Treasury head of asset and liability management says that Eskom would be required to selloff its noncore assets and make operational improvements if the government assumes part of its R400 billion debt. However, Pieterse added that Treasury had not yet finalised the conditions to be attached to the Eskom debt takeover.
Amid these debt takeover formalities, South Africa has secured $500 million (R9 billion) to aid its just transition from coal to renewables. The Climate Investment Funds- a multilateral climate fund affiliated with the World Bank- had approved the funding.
According to a statement from CFI, “The decision intends to equip the country with concessional, risk-bearing capital from CIF’s Accelerating Coal Transition (CIF ACT) investment programme to build momentum toward ambitious climate, energy, and development goals”.
Barbara Creecy, the Forestry, Fisheries an Environment Minister welcomed the CIF’s decision, adding that estimates indicate South Africa needs over R1 trillion in investments to support its energy transition over the next eight years.
“The CIF ACT finance will make a meaningful contribution towards South Africa walking down the ambitious pathway to a brighter future for our people, addressing our energy needs, promoting sustainable development, and leaving no one behind,” said Creecy.
Source: Business Tech, Eyewitness News, Times Live, image from Twitter: @VOCfm
