South Africa to Raise $11b for Nuclear Plant

South Africa to Raise $11b for Nuclear Plant

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.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password