SA Explores New Funding Models to Boost Nuclear Energy Expansion
image: Necsa
by Kelebogile Matlou
The Department of Electricity and Energy says it is actively exploring various ways to fund the expansion of South Africa’s nuclear energy programme, which has been running since 1984. Deputy Director-General Zizamele Mbambo confirmed that the government is considering a range of innovative financing models to support this initiative.
He believes that with the right approach, South Africa can afford to grow its nuclear energy capacity. “There are innovative financing options that can be explored in terms of deploying the nuclear power program. So, in our view, there is opportunity that South Africa would be able to afford a nuclear power program. We are looking into a combination of different financing options available in the market to see what would work best for the country,” said Mbambo.
This announcement comes as the department prepares to host the third G20 Energy Transitions Working Group meeting this week in Sun City, North West. The three-day gathering brings together global energy stakeholders to share knowledge and discuss solutions for a cleaner, more sustainable energy future, with nuclear energy expected to be one of the key topics.
On a related note, Minister of Minerals and Petroleum Resources Gwede Mantashe spoke at the G20 Critical Minerals Stakeholders Engagement, also held this week. The event was themed:“Harnessing Critical Minerals for Inclusive Growth and Sustainable Development.”
Mantashe highlighted the importance of South Africa’s mineral wealth, especially chrome and coal, in supporting economic growth and job creation. “Every mineral is critical, as they all contribute to employment and development in the country,” said Mantashe.
The G20 meetings signal South Africa’s ongoing commitment to strengthening its energy sector while working with global partners to transition toward cleaner and more resilient power sources.
