Government will take over as much as two-thirds of Eskom’s R400-billion debt mountain, finance minister Enoch Godongwana said.
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Finance minister Enoch Godongwana is expected to announce a plan to take on part of Eskom’s mammoth debt.
Eskom on Sunday pushed load shedding to stage 4 and warned of severe power cuts throughout the coming workweek.
The outlook for load shedding for the foreseeable future has deteriorated significantly.
Three Eskom contractors and an Eskom employee have been arrested for alleged criminal activity at two of the utility’s power stations.
South Africa wants to spend billions of dollars fostering an electric vehicle industry, complicating efforts to finalise an $8.5-billion climate aid package.
Eskom said it expects to reduce the intensity of load shedding by midnight, after which a mix of stage-2 and stage-3 cuts will be implemented.
South Africa, the world’s 13th biggest source of climate-warming greenhouse gases, will unveil details on how it plans to cut emissions next month.
Eskom had an ugly surprise for South Africans as they woke up on Tuesday morning: stage-4 load shedding had returned.
Eskom on Friday signed lease agreements with private power producers for the construction of renewable energy plants on its land in Mpumalanga.