Eskom is reportedly sitting on multibillion-rand loans that it signed last year to boost the country's renewable energy industry.
This is despite the country's renewable energy sector losing patience with Eskom, accusing the state-owned entity of delaying the signing of new power purchase agreements.
According to a BusinessDay report, the power utility is yet to sign loan agreements with the New Development Bank and the African Development Bank secured in 2016.
The African Development Bank, in July 2016, extended a R20 billion loan facility to Eskom which is yet to be utilised.
In April last year, ITWeb reported that Eskom secured a $180 million (R2.6 billion) loan from the New Development Bank (NDB) - formerly BRICS Development Bank - to invest in renewable energy in SA.
The NDB then announced its board of directors had approved its first set of loans involving financial assistance of $811 million, to be disbursed in tranches, supporting 2 370MW of renewable energy capacity.
Eskom's delays are despite president Jacob Zuma, in his recent State of the Nation Address, announcing the power utility will sign the outstanding power purchase agreements with the renewable energy industry.
Eskom could not be reached for comment by the time of publication.
However, renewable industry body, the South African Photovoltaic Industry Association (SAPVIA) says it is concerned about the amount of time it has taken to conclude these loans from when they were originally announced.
"Unfortunately, this has been consistent with Eskom's general behaviour towards the South African renewable energy of publicly expressing support for the sector, whilst never following up these words with actions," says Mike Levington, CEO of SAPVIA.
"It is further concerning as a number of projects in round four will be relying on upgrade to the transmission system to allow them to connect and supply power to the grid. Without understanding the reasons for these delays, SAPVIA can only exhort the parties to expedite the conclusion of any outstanding matters to allow for the upgrades to the grid to commence."
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