South African utility Eskom has announced it will miss its target of increasing coal stockpiles in time for meeting winter electricity demands.
The company, which has struggled to meet demand all year, set a target of increasing stockpiles to 20 days supply this winter.
According to the company, stockpiles are currently at an average of 15 days.
Yesterday, the African Development Bank announced a US$500m loan to fund Eskom's R450bn capital expansion programme, writes Reuters.
Eskom says it plans to spend US$45.38bn over the next five years on generating capacity.
Poor quality coal and stocks have contributed to Eskom's battle to meet electricity demands, which has seen platinum and gold mines operating below full capacity.
By staff writer
