Page 10 - AfrElec Week 43 2022
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AfrElec POLICY AfrElec
South Africa approves $8.5bn
decarbonisation plan
SOUTH AFRICA SOUTH Africa’s cabinet has approved a $8.5bn COP27, will be released for public comment this
investment plan to help the country migrate year,” said Barbara Creecy, the Minister of For-
from the use of coal for energy to renewables estry, Fisheries and Environmental Affairs. “We
such as green hydrogen, News 24 reported. are urging that you look at it, understand it and
The package from the Just Energy Transi- see how it lays out the vision for ways we want
tion Partnership (JETP), comprising the US, to support the transition for these three sectors.”
UK, France, Germany and European Union The funding will be targeted at the closure
as well as South Africa, will be presented at the and re-purposing of coal-fired power plants
Climate Change Conference (COP 27) in Egypt owned by Eskom Holdings Soc Ltd, the state
in November 2022. The five parties originally power utility, as well as the development of the
committed to supporting Africa’s number one green hydrogen and electric vehicle sectors.
carbon emitter at COP26 in Scotland in 2021. South Africa produces about 80% of its electric-
In recent months, a team led by the former ity from coal but in recent years has been work-
deputy governor of South Africa’s central bank, ing to green its generation.
Daniel Mminele, has been working to ensure Creecy estimates that the country needs
that the support, which is in form of conces- R1trn ($55.1bn) in investment in the energy
sional loans and grants, does not worsen the sector to effect the transition from fossil fuels to
country’s debt. renewables.
“The investment plan, once launched at
P10 www. NEWSBASE .com Week 43 26•October•2022
