How will South Africa pay for nuclear power

National Treasury currently has no plan on how it will finance the trillion rand nuclear deal signed by South African Energy Minister Tina Joemat-Pettersson last year.

How is South Africa going to pay for the nuclear deal?
How is South Africa going to pay for the nuclear deal?

When asked in Parliament how the deal will be financed, Minister Nene admitted that the programme is a substantial financial commitment, and that “Government is undertaking a careful and thorough analysis of financing options to ensure the affordability and long term sustainability of the fiscus and financial soundness of a state owned entity like Eskom”.

It can only be assumed that government has thus recklessly committed itself and inevitably the South African taxpayer to a trillion rand framework agreement without first exploring how it will be financed.

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The National Development Plan has also questioned the financial wisdom of South Africa committing to a nuclear spend.

Thyspunt has been identified as the preferred site to build a nuclear power station, despite a number of flaws that have been identified in the Impact Studies.

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