South Africa's $3.2B Nuclear Plan

Key Figures & Findings: South Africa is advancing its nuclear energy strategy with a proposed USD 3.2 billion investment, focusing on mini nuclear reactors to enhance energy security. Electricity and Energy Minister Kgosientsho Ramokgopa emphasized the need for international collaboration, citing potential partnerships with Russia, China, the US, France, and South Korea. This initiative follows the successful 20-year extension of Koeberg Nuclear Power Station's Unit 1, Africa's sole commercial nuclear facility, now licensed to operate until 2044. The government aims to rebuild trust in nuclear procurement processes, previously marred by controversies, by ensuring transparency and seeking expert advice.

Statistics & Insights: The project aims to add at least 10 GW of nuclear capacity, with initial registration and preparatory costs estimated at $640 million. Koeberg's Unit 1 contributes approximately 5% to South Africa's electricity supply, underscoring the significance of nuclear power in the nation’s energy mix.

Future Implications: If implemented as planned, the nuclear expansion could alleviate South Africa’s persistent load-shedding issues by 2035. However, the project's success would depend on securing credible international partnerships and avoiding procurement risks that have plagued past efforts.

Source: BusinessLive