South Africa’s cabinet has endorsed an investment plan to help the country transition away from the use of coal, a key step in securing $8.5 billion in climate finance on offer from the world’s richest nations.
The plan envisages the closure and re-purposing of coal-fired power plants owned by Eskom, the state power utility, so that additional renewable energy can be produced. It also covers expanding the transmission grid and fostering the development of electric-vehicle and green hydrogen industries.
South Africa depends on coal for more than 80% of its power, and 90,000 people are employed at coal mines. Spokesperson to President Cyril Ramaphosa, Vincent Magwenya, on Monday said the President had withdrawn the amendment to the Ministerial Handbook, pending a review. “They also required the State to take over full responsibility for the costs associated with the provision of electricity and water to official residences occupied by members of the executive,” Minister in the presidency Mondli Gungubele said.
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