The project cannot be done on the power utility’s own balance sheet as it is not allowed to incur more debt. Moneyweb Eskom
Following court approval to rescind its own decision against the project, the National Energy Regulator of South Africa now concurs with a determination for Eskom to build a new 3 000MW gas power station in Richards Bay. A treasury ban on additional debt however complicates matters and environmental groups are also determined to block the project. Nevertheless, Eskom hopes to proceed and deliver the first power to the grid before the end of 2028.
In an affidavit submitted to court, Nersa full-time regulator member Nhlanhla Gumede said the about-turn came after the director-general of the Department of Mineral Resources and Energy raised his concern with Nersa chair Thembani Bukula that Nersa made a mistake. Nersa’s legal division considered the suggestion and agreed, and on 25 April the court granted the Nersa application and scrapped the first decision, paving to way for Eskom to proceed with the project.
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