Eskom said it remains committed to building a second new coal-fired power plant in South Africa to help counter power blackouts.
The firm is in discussions with the government on various funding options for the construction of the planned 4,800MW Kusile plant, but funding is yet to be finalised.
The station, once complete, will consist of six units, each with a capacity of about 800MW, and is expected to become one of the largest coal-fired power stations in the world.
Eskom finance director Paul O’Flaherty told Dow Jones that the company is working hard to resolve the funding issue because there is no viable option to replace Kusile.
“Without the additional power from Kusile from 2014, there could be constraints on South Africa’s economic growth,” O’Flaherty said.
South Africa faces a very thin margin between supply and demand, especially over the next three years, according to Eskom.