South Africa is going to need a lot of cash, a lot of time and a lot of help if it wants to successfully transition from coal-powered energy to more sustainable green energy. Read about the plans for this transition here:
South Africa will need a hefty amount of $250 billion to ultimately transition from being dependent on coal-fired power plants to instead using green energy. But South Africa, one of the world’s biggest sources of greenhouse gases, will need to rely on support from other countries and follow a strict strategy over the next three decades for the transition to be successful, according to a study done by Stellenbosch University.
“The $8.5 billion pledge can be a catalyst to unlock this $250 billion,” researchers said in the study released Thursday. “It should offer the global blueprint for transition finance.” But South Africa has a long, complex and expensive journey ahead before it can reach its mark. According to a strategy outlined in the study, the country would need to install 5 gigawatts of renewable energy capacity every year until 2050. Researchers predict that it would create 5 000 jobs a year over the next decade in the construction, operation and maintenance of the new plants.
$10 billion to compensate affected coal workers and to rehabilitate the environment at idled coal mines
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