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Government appears to favour ‘Boot’ model alread used by Russia Koeberg, near Cape Town, is the only commercial nuclear power station in South Africa. The Nuclear Industry Association of South Africa (Niasa) has proposed six possible funding options for new nuclear, but government officials have suggested the most likely is a “build, own, operate and transfer” (Boot) model similar to that used by Russia for project including Akkuyu in Turkey.

Niasa told Engineering News that the very high proportion of the cost of energy that comes from the repayment of capital means interest rates will be fundamental to the viability of any new nuclear project in South Africa.

The association said real interest rates – which are adjusted for inflation – on state debt could be in the range of 2% to 3%, while real interest rates on high risk equity finance could vary from 10% to 15%. It said this explains why some new nuclear projects such as state-supported projects in China could be very competitive while others, such as the private equity funded Hinkley Point C in the UK, needed some kind of state guarantee such as long-term power purchase agreements.

Niasa identified six financing options that could be used to fund a new nuclear programme. The first was state funding for the entire project or state provided sovereign loan guarantees using reserves and cash flows from state-owned companies, as was the case with the United Arab Emirates’ Barakah project.

Date: Wednesday, 20 May 2020
Original article: nucnet.org/news/industry-association-proposes-financing-options-for-new-build-5-2-2020

Following an 11-day mission to South Africa, an International Atomic Energy Agency (IAEA) Integrated Regulatory Review Service (IRRS) team said on 15 December that South Africa has a robust regulatory framework for nuclear safety but recommended improvements in the oversight of radiation safety.

Date: Tuesday, 20 December 2016
Original article: neimagazine.com/news/newsiaea-recommends-improvement-to-south-africas-regulatory-system-5702054

An international team of nuclear safety experts led by the International Atomic Energy Agency (IAEA) today completed an assessment of operational safety at Flamanville 1&2 in France. It appears that the review did not include unit 3, under construction.

Date: Thursday, 23 October 2014
Original article: neimagazine.com/news/newsiaea-osart-mission-to-flamanville-site-completed-4415063