Kurt Knoop and Johann Louis Klopper, who were appointed as rescuers in February 2018, told Business Report this week that they had accepted an offer from an investor.
Knoop said the investor would provide funding and post commencement finance to resume operations before the end of the month. He said negotiations between the business rescuers and Eskom management for coal supply were at an advanced stage and both parties would be signing agreements soon.
“It’s a brand new agreement,” Knoop said. “The old agreement came to an end in December 2018,” he said, noting that the quantity of coal supply to Eskom would be agreed upon during the ongoing negotiations.
The developments come as Eskom battles intermittent power cuts across the country which have forced the utility implementing stage 4 load shedding to stabilise the grid.