South Africa's Eskom to spend $23.5bn on new plantsStaff writer ▼ | April 28, 2016
South African power utility Eskom is not under pressure to tap international markets to help fund its 340 billion rand ($23.5 billion) five-year expansion plan, its chief executive said.
Investing State-owned Eskom is building new transmission lines
"Our funding for last year is complete and most of the funding for this year is done," Eskom CEO Brian Molefe told reporters. "We never issue less than benchmark which is anything above $500 million, so it can be $750 million or $1 billion."
He said the timing would depend on market conditions, adding that the successful pricing of a 10-year dollar bond by the National Treasury in April was a good sign.
Eskom is building three new power plants and expects to add 5,620 megawatts (MW) to the network by 2018. ■