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US agency to support 2 500MW nuclear project in South Africa

As part of strategy to support reliable energy supply in the country.
Image: Supplied

The United States International Development Finance Corp pledged to support NuScale Power, a US nuclear energy technology firm, to develop 2 500 megawatts of power in South Africa.

South Africa’s government drafted an economic recovery plan in conjunction with business and labor groups several months ago in a bargaining forum known as the National Economic Development and Labour Council, in the wake of the coronavirus pandemic. A version of the strategy that was discussed by the cabinet this week, and seen by Bloomberg, includes suggestions to secure reliable energy supply through the construction of new nuclear plants.

The draft envisages R23 billion being allocated to galvanise private investment in infrastructure and R4.5 billion being spent on public transport over the next 12 months, but provides scant detail on where the money will come from.

The DFC, which ended its prohibition on supporting nuclear power in July, signed a letter of intent to support NuScale’s bid for South Africa’s independent power producer program, the development bank said in an emailed statement on Friday. “If successful, NuScale would be the first US nuclear energy IPP on the continent and would help support energy resilience and security in one of Africa’s leading economies,” the DFC said.

© 2020 Bloomberg

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Is it possible? A sensible move on power – at last!

Big projects in SA are small compared to the USA and China.

No, bad thing. Read my comment.

The economy will run on steroids if the US starts to come back or show some interest.

No, it will go the Argentine route of excessive debt dependency.

South-Africa does not need ANY Nuclear Power nor does it need any investment from the U.S to impliment any strategy to fund Nuclear.It is a crime against Nature and a crime against Humanity. The HY-DROME can generate 40 000 MW of Power everyday, nonstop, for S.A with 100% Renewable Energy from the Sea and 35 BILLION RANDS for the Economy every single day, with the Seventh way to generate Energy WITHOUT Solar, Wind, HYDRO, MINISUBS, Fossil FUELS or Nuclear. America has no business to invest in Nuclear in S.A. They must be stopped.

Amazon is big in Cape Town.

Why not more US investment?

South Africans are one of the best workers and professionals in the world.

f they keep the long-fingered kANCer then an absolute winner!

You are the only negative one on this topic!

Nuclear-powered Meltdown… Ask the pple of chernobil. Nuclear power is not a energy breakthrough, it is a crime against Nature and a crime against Humanity. There is another way. HY-DROME is the ONLY way forward for South Africa

A step in the right direction. Long overdue.
We can now begin to plan for the future!

There is NO FUTURE with Nuclear. 100% Renewable energy from the sea is the Future of South-Africa HY-DROME RENEWABLE ENERGY.

Not sure what is worse? Being captured by Russians on nuclear or Americans.

The Americans are just more subtle at how they do the bribery and corruption thing.

End of comments.

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