Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

South Africa may increase nuclear power - newspaper

Published 02/09/2015, 07:23
Updated 02/09/2015, 07:27
South Africa may increase nuclear power - newspaper

JOHANNESBURG (Reuters) - South Africa's future energy mix could include an even higher share for nuclear power than the 9,600 megawatts (MW) already planned, the Business Day newspaper reported on Tuesday, citing an interview with a government official.

It said a new version of South Africa's integrated resources plan, which projects its electricity requirements and suggests the energy generation mix needed, will be released in March.

"Given that we have a climate change commitment to fulfil, it should not surprise people that the viability of a much larger nuclear contribution in the long term should be tested alongside all other options," Omphi Aphane, deputy director general in the Department of Energy, told the newspaper.

Africa's most advanced economy is gripped by an electricity shortage and regular power cuts are hurting economic growth and tarnishing investor confidence.

The government aims to procure nuclear reactors to generate 9,600 MW by 2030 but the newspaper said that could be "enhanced further", as the government aims to fulfil its targets to mitigate climate change.

Analysts have estimated that the current nuclear building plans could cost as much as $100 billion, making it the country's biggest ever infrastructure project.

However, Energy Minister Tina Joemat-Pettersson said neither the price nor the contractor had been determined.

Opposition parties have expressed concern about the cost and that agreements to build the nuclear plants will be made behind closed doors, without proper public scrutiny.

China, France, Russia, the United States and South Korea, as well as Japan and Canada, have all expressed interest in the project and have signed or are close to signing cooperation deals with South Africa on trade and technology exchange.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.