South Africa - 04

South Africa: Eskom Takes Aim at IPPs

In its 5 July results presentation, Eskom announced its improved financial performance for the 2015-16 financial year ending in March. This can partly be attributed to Eskom’s more stable and credible leadership under Brian Molefe, who was made permanent CEO in September 2015; however, its improved financial metrics were aided by a R23bn ($1.7bn) capital injection by the state. Eskom’s performance has significant implications for IOCs interested in the 3,126 MW gas-to-power independent power producer (IPP) program, as the company will potentially be the sole purchaser of the power generated under it.

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