Eskom has dropped plans to build nuclear power stations - at least for now.
I suppose we need to keep things cheap and dirty for now.South Africa, suffering a power shortage that is limiting supplies to mines, has cancelled a R120 billion plan to build a nuclear plant as the credit freeze cuts financing.
The decision by the board of Eskom would not undermine "national security of supply" as economic growth would slow and other plants were being built, the government communications office said on Friday.
Groups led by Areva, the world's top supplier of nuclear reactors, and Toshiba's Westinghouse Electric are vying for the order. A global recession and an expected drop in energy demand is halting spending on projects from Canada to the Middle East and Africa.
"It's too big, we can't do it," said Eskom spokesperson Fani Zulu. "The bidders were informed after we took the decision at a board meeting [on Thursday]."
full story from Business Report here