S Africa’s Eskom to use Sh1.11 tril­lion fu­ture in­come for nu­clear ex­pan­sion

The Star (Kenya) - - News Business -

REUTERS/ South Africa’s power util­ity Eskom es­ti­mates it will have 150 bil­lion rand ($11 bil­lion or about Sh1.11 tril­lion) by the next decade to help fund a nu­clear ex­pan­sion pro­gramme planned by the gov­ern­ment, a se­nior ex­ec­u­tive said. In a col­umn in the Busi­nessDay news­pa­per, Eskimo’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. South Africa, which has the con­ti­nent’s only nu­clear power sta­tion, has ear­marked nu­clear ex­pan­sion as the cen­tre­piece of a plan to in­crease power gen­er­a­tion to ease the coun­try’s re­liance on an age­ing fleet of coal-fired en­ergy plants.

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