South African power utility Eskom is moving forward with plans to construct and operate multiple nuclear installations and power reactors in Eastern Cape and Western Cape provinces. The firm has extended a 30-day period for interested parties to comment on its plan to build the nuclear plants, Reuters reported.
Environmental and civic groups have expressed concern about the two proposed sites, while economists have said South Africa cannot afford to build new nuclear power plants.
In related news, Denmark’s Jyske Bank AS became the second money manager to say it won’t lend to Eskom amid concern about the company’s governance. Earlier, Futuregrowth, South Africa’s biggest specialist fixed income manager, said it shelved plans to lend more than $123m to three state companies, including Eskom, citing concerns about how they are being run, according to Bloomberg.