Eskom Holdings SOC Ltd, the state utility that supplies most of South Africa\u2019s power, said it\u2019s seeking to appoint advisers on how to restructure itself into three separate units, a reorganization that was proposed to let it to better deal with an untenable debt burden.<\/p>\n
The separation of the Johannesburg-based company into transmission, generation and distribution units was first raised by South African President Cyril Ramaphosa more than two years ago.<\/p>\n
The company has since reduced its liabilities but is still struggling to manage almost R400 billion ($28 billion) in debt, and has subjected the country to intermittent power cuts since 2005.<\/p>\n
The so-called request for proposals is in addition to an earlier notice seeking advisers on how to fund the closing and re-purposing of a number of the company\u2019s coal-fired power stations into sites that could generate electricity from natural gas or renewable sources.<\/p>\n
\u201cThe RFP is only for financial advisers to assist with Eskom\u2019s legal unbundling and separation,\u201d the company said in a response to questions.<\/p>\n