The power utility will extend a nearly R40bn loan to the National Transmission Company of SA under the separation plan
SA’s plan to create a power transmission company that will attract the investment needed to strengthen the national grid has been hobbled by its restrictive debt arrangements with parent Eskom, two people familiar with the situation said.
Eskom’s board will also approve an annual borrowing plan for the transmission company that will take the form of intercompany loans, the utility said in its presentation. Additional borrowing will need to be approved by Eskom. “The subsidiarisation of NTCSA is the first step in the total unbundling of the electricity industry,” Eskom said in a response to queries. It didn’t answer questions as to whether the arrangement was temporary or whether it would inhibit partnerships with private developers.
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