Eskom’s IPP office is failing its mandate; warning of more job losses in one of SA’s biggest sectors; SOEs remain a significant drag on the fiscus; and South Africa is likely to stay on the grey list.
Energy analyst Professor Anton Eberhard says Eskom’s IPP office is failing. Between 2011 and 2014, the IPP Office ran four auctions that delivered 6 300MW of solar and wind projects. In July 2020, it has so far only secured 150MW of power, which is in the process of being commissioned. According to Eskom’s figures, it is estimated that SA needs 50 to 60 GW of new wind and solar by 2030. This is a major threat to power availability, said Eberhard.
5% of GDP in 2023/24, is likely to remain a significant drag on the fiscus in the coming years. The state has already absorbed R250 billion of Eskom’s debt, while Transnet last week asked Treasury for over R100 billion to get its operations back on track. Economists expect Transnet to get some assistance, albeit with strict conditions in the medium term. [South Africa looks set to remain on the grey list of a global anti-money laundering watchdog for the next year.
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