UPDATE 1-S.Africa's Eskom says to tap global bond markets

* Aims to raise 45-50 bln rand in next three years

* To tap bond markets in U.S., Europe this year

* Sees government approval of funding plans soon

(Recasts, adds details and background)

CAPE TOWN, Sept 7 (Reuters) - South African power utility Eskom [ESCJ.UL] aims to issue bonds in the United States and Europe this year, as part of a plan to raise up to $6.9 billion over the next three years, a top executive said on Tuesday. Eskom, which uses mainly coal-fired power stations to supply most of the power to Africa's largest economy, needs funding for a planned multi-billion dollar programme to help alleviate chronic power shortages.

The utility is waiting for government approval of its plan to raise 45 to 50 billion rand ($6.9 billion) over the next three years, Paul O'Flaherty, Eskom's finance director, told Reuters on the sidelines of a briefing to lawmakers at parliament.

"We will be looking at the US and European bond markets where we think there is a lot of appetite for Eskom," he said.

"We will have to work out when the market appetite is at its best, but it should be this calendar year, that's our intent."

Government approval is expected within weeks, he said.

South Africa's national grid nearly collapsed in early 2008, forcing mines and smelters to shut and costing the country billions of dollars.

O'Flaherty said Eskom's total funding gap over the next seven years stood at around 45 billion rand, although most of that arose in the next three years.

He also said the government remained committed to a planned 4,800 megawatt power plant in Kusile.

(Reporting by Wendell Roelf; editing by David Dolan)