Eskom seeks World_Bank nuclear funding
Analysis based on 9 articles · First reported May 20, 2026 · Last updated May 20, 2026
The market impact is positive for the energy sector in South Africa, as Eskom's pursuit of nuclear power could lead to a more stable and diversified energy supply. Financial institutions like the World Bank Group and African Development Bank could see increased activity in project financing if these talks materialize into concrete deals.
South Africa's state power utility, Eskom, is in exploratory discussions with the World Bank Group and other potential funders, including the African Development Bank and commercial banks, for a multibillion-dollar nuclear program. This initiative aims to add up to 5,200 megawatts of new nuclear capacity, comprising 4,800 MW from conventional pressurized water reactors and 400 MW from small modular reactors (SMRs). The program is part of South Africa's strategy to secure more baseload power and transition away from its heavy reliance on coal. Eskom, which cannot fund these plants independently, plans to issue a request for information within the next 12 months. The World Bank Group has indicated its willingness to support countries that choose nuclear power as part of their energy mix, and funding options like public-private partnerships and vendor financing are being considered.
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