Eskom says it can fund nuclear build
Executive expects R150bn to be accumulated in the next decade
ESKOM can pay for the nuclear build programme because it will have accumulated a R150bn cash pile in the next 10 years, according to its head of generation, Matshela Koko.The source and scale of funding for the nuclear energy programme has been a point of contention both in the government and with the public since it was put on the table by President Jacob Zuma two years ago.Writing for Business Day on Friday, Koko says the improvement in Eskom’s finances — including improved access to finance, improved revenue from a better operating plant and the completion of the build programme — will allow it to build substantial reserves."This improving trend will continue over the medium to long term and will culminate in the company having cash balances in excess of R150bn by year 10 of the plan. These cash resources could be deployed to fund the new nuclear build programme. Furthermore, the 2016-17 corporate plan has significantly increased the borrowing programme of Eskom to R327bn, which ...
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