MTN Again Named SA’s Best Mobile Network

MyBroadband Insights has released the Q3 2020 Mobile Network Quality Report, which shows that MTN has the best mobile network in South Africa. The report...

Latest Posts

Why An Independent Bond Originator is key to your home buying success

Navigating banking systems is almost always stressful and tediously litigious, and particularly true when it comes to applying for a home loan. Despite all...

New Yorker Writer Jeffrey Toobin Suspended For Exposing His Penis on Zoom

The New Yorker magazine has suspended staff writer Jeffrey Toobin after he exposed his penis during a virtual staff call last week over the...

Prosus Ventures Makes its First Investment in Mexico

Prosus Ventures has announced its first investment in Mexico, leading a $15 million (R246 million) Series A funding round in Klar, a challenger bank in...

U.S.Justice Department Files Antitrust Lawsuit Against Google

The U.S. Justice Department filed an antitrust lawsuit Tuesday against Google, alleging the search giant is engaging in anticompetitive and exclusionary practices in the...

Optimise SA nuclear deal to get cheaper electricity – Rosatom

South Africa should optimise its funding model in the procurement of its 9 600 MW nuclear build programme to ensure cheaper electricity costs, according to Rosatom’s Nikolay Drosdov on Wednesday. By Matthew le Cordeur

Drosdov, director of international business for Rosatom, told Fin24 that South Africa should “optimise the model to decrease the price of electricity, because … the proportion between investments and loans depends on the … levelised cost of electricity”.

“You have to pay interest rates from your price of electricity if you’re using a lot of debt money,” he said on the sidelines of the Nuclear Africa conference. “We can help to optimise the model, but it’s also the subject of commercial negotiations.”

The Department of Energy will release its Request for Proposals by the end of March, after a year-long process of signing up vendor countries through inter-governmental agreements regarding the peaceful use of nuclear energy.

To speed up the programme, South Africa should follow the engineering, procurement and construction (EPC) procurement model, which would be signed by the existing state-owned company (Eskom) or a newly created company, according to Drosdov.

“This company shall sign an EPC contract … with the scope closed to a turnkey base with one of the global nuclear vendor selected based on the competitive and transparent procedure during the procurement process,” he said.

“In nuclear, we have different financial models that you can invest some money in the equity, you can attract some money from the market, from the government resources, from export credit agencies/banks (entities that provide government-backed loans),” he said.

While many economists have spoken about the value add to South Africa’s economy with large nuclear localisation, Drosdov said the exact size will depend on the interest local business has for the nuclear procurement programme.

“If local business is interested to participate in the nuclear programme, we can increase it (localisation),” he said. “If not, we can supply 100% by our sources, but economically it’s not efficient. We are trying to use local partners … (due to) lower costs, but it’s the subject for negotiation.”

“What could be a solution is a global partnership,” he said. “For example, you would take a Russian nuclear island (the heart of the nuclear plant) and we will integrate your local competencies and local technologies.”

“We can have for example Russian/South African technology that can be exported to other countries in Africa.”

Several media outlets challenged Drosdov this week over the programme, asking him whether a secret deal had been signed with South Africa. Fin24 has on numerous occasions asked this question to Rosatom officials including Drosdov, with the usual reaction that no such deal had been signed. – Fin24

 

Latest Posts

Why An Independent Bond Originator is key to your home buying success

Navigating banking systems is almost always stressful and tediously litigious, and particularly true when it comes to applying for a home loan. Despite all...

New Yorker Writer Jeffrey Toobin Suspended For Exposing His Penis on Zoom

The New Yorker magazine has suspended staff writer Jeffrey Toobin after he exposed his penis during a virtual staff call last week over the...

Prosus Ventures Makes its First Investment in Mexico

Prosus Ventures has announced its first investment in Mexico, leading a $15 million (R246 million) Series A funding round in Klar, a challenger bank in...

U.S.Justice Department Files Antitrust Lawsuit Against Google

The U.S. Justice Department filed an antitrust lawsuit Tuesday against Google, alleging the search giant is engaging in anticompetitive and exclusionary practices in the...

Don't Miss

SA Web Users Must Report Fraud During Cybersecurity Awareness Month

Statistics South Africa says almost two-thirds of South African households now have at least one person who accesses the Internet. Add this to the fact...

Liquid Telecom Enables Africa’s Digital Economy

Liquid Telecom believes there is a massive opportunity to fast-track Africa’s digital economy. The continent’s biggest fibre company wants to enable entrepreneurs to be at...

Telkom Looking for SA’s Content Creators To Feature On Its New Video Service, TelkomONE

Telkom is looking for fresh local content creators to contribute content to and have it featured on its new video service called TelkomONE -...

Liquid Intelligent Technologies Appoints Deon Geyser as New CEO for its SA Operations

Liquid Telecom South Africa announced today that Deon Geyser has been appointed as its new CEO. His appointment is effective from January 2021. Geyser will...

Shoprite Introduces Xtra Savings Rewards Programme

The Shoprite Group is launching a rewards programme for its Shopite branded stores on Monday 12 October 2020. The new Shoprite Xtra Savings card...

Stay in touch

To be updated with all the latest news, offers and special announcements.

%d bloggers like this: