South Africa’s power utility Eskom estimates it would have $11b within ten years to help fund a nuclear expansion program planned by the government, Reuters reported.
Eskom’s Group Executive for Generation, Matshela Koko, said under the utility’s 2016/17 business plan and by means of improved access to finance and improved revenue from a better operating plant the company will be able to raise significant funds to help build the proposed nuclear facilities, according to Business Day Live. He added: “the 2016-17 corporate plan has significantly increased the borrowing programme of Eskom to over $23.8b, which is an increase of about $6.57b.”
South Africa, which has the continent’s only nuclear power station, has earmarked nuclear expansion as the centerpiece of a plan to increase power generation to ease the country’s reliance on an aging fleet of coal-fired energy plants. But the price tag of up to $73b for 9.6GW of nuclear power expected to be operational by 2030 has raised concerns over whether the plan is affordable, triggering criticism from opposition parties and civil society.