Reuters reports that the Government of South Africa has put aside 200 million rand ($15 million) in preparation for its nuclear energy program to ease pressure on growth caused by ongoing electricity shortages, the SA Treasury said. National Treasury is working with the SA Department of Energy to consider the costs, benefits and risks of building additional nuclear power stations, Treasury said in its medium term budget policy statement.
Treasury had already injected 23 billion rand into ailing state power utility Eskom, through the sale of its stake in mobile phone firm Vodacom earlier this year. Although South Africa has the most advanced economy, it is facing its worst energy crisis ever and is looking to ramp up supply by diversifying its long standing reliance on coal-fired power stations.
South African Finance Minister Nhlanhla Nene has previously pledged that the SA nuclear program, its most expensive procurement deal, will be transparent, dispelling concerns among opposition parties that the government is moving ahead without proper disclosure.
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