Eskom Holdings, the State-owned utility that supplies about 95% of South Africa’s power, rejected proposals by the National Treasury that it sell some plants to reduce its debt mountain, a lawmaker said. Eskom has turned to the government for bailouts to remain solvent as it confronts massive cost overruns at two partially completed coal-fired plants – Medupi and Kusile – and its other aging plants struggle to produce enough power to meet demand. The sale of the generating facilities could raise R450-billion, Treasury said in a policy paper published on August 27.
