POST Online Media Lite Edition


Eskom: We will have $11 billion for nuclear plant

Staff Writer |
Power utility Eskom from South Africa estimates it would have $11 billion within the next decade to help fund a nuclear expansion programme.

Article continues below

Africa's most industrialised country, which has the continent's only nuclear power station, has earmarked atomic expansion as the centrepiece of a plan to raise power generation to ease its reliance on an ageing fleet of coal-fired plants.

In a column in the BusinessDay newspaper, Eskom's group executive for generation, Matshela Koko, said under the utility's 2016/17 business plan, the firm would raise significant funds to help build the proposed nuclear plants.

"These cash resources could be deployed to fund the new nuclear build programme," Koko said.

Eskom's aim to build three new power plants by 2018 have been hamstrung by delays and cost overruns, casting doubt on its ability to deliver on its expansion plans.

What to read next

South Africa's Eskom has cash to last 'a few months'
Eskom and AFD to use €150 million for energy improvement
Barclays Africa and Standard Bank drop McKinsey