The United States International Development Finance Corp (DFC). has pledged support to NuScale Power LLC, a US nuclear energy technology firm, to develop 2,500 megawatts of power in South Africa. The plan envisages setting up 3+ of its 12 - 60 MW Small Modular Reactor units. Last May, South Africa’s government drafted an economic recovery plan strategy that includes suggestions to secure reliable energy supply through the construction of new nuclear plants, Bloomberg reported. “If successful, NuScale would be the first U.S. nuclear energy IPP on the continent and would help support energy resilience and security in one of Africa’s leading economies.” the DFC said in its statement, Neutron Bytes reported.
The letter of intent is not a funding commitment. A lot of work lies ahead for NuScale, for South Africa, and the bank which has said that it has an upper limit of $1 billion for new nuclear projects. The bank has a separate fund for technology development, but it isn’t clear how much funding is available for a single applicant or whether NuScale would qualify for it, Neutron Bytes cautioned.
