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The US International Development Finance Corporation has committed to supporting NuScale Power LLC, an American nuclear power technology company, to develop 2,500 megawatts of power in South Africa.
The South African government drew up an economic recovery plan together with business and labor groups several months ago in a negotiating forum known as the National Council for Economic Development and Labor, in the wake of the coronavirus pandemic.
One version of the strategy that was discussed by the cabinet this week, and seen by Bloomberg, includes suggestions for ensuring a reliable power supply through the construction of new nuclear plants.
The draft foresees the allocation of R23 billion to boost private investment in infrastructure and R4.5 billion spending on public transport over the next 12 months, but provides scant details on where the money will come from.
The DFC, which ended its ban on supporting nuclear power in July, signed a letter of intent to support NuScale’s bid for South Africa’s independent power production program, the development bank said in a mailed statement. email on Friday.
“If successful, NuScale would be America’s first nuclear power IPP on the continent and would help support energy resilience and security in one of Africa’s leading economies,” said the DFC.
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