South Africa's largest electricity producer has embarked on mega investments to build new power stations. This paper reports on the risk management maturity level, and risk management processes. The research adopted the survey research method and self-administrated questions to collect primary data. The investigation targeted the total population of 100 engineers, technical managers, safety officers and quality officers. The researchers collected a total of 44 useful responses. The research established that the overall risk management maturity at the intermediate level. The risk response planning and risk monitoring were identified as processes that need improvement. The risk factors in the South African power utility construction projects were a lack of pre-planning, the level of contractor's performance, community unrest, labour unrest, safety incidents, defective work and poor risk management skills. The paper has both theoretical and practical implications despite the limitations associated with the study design.