SA on track to meet energy transition project targets
South Africa says it’s on track to meet its targets when it comes to the ambitious just-energy transition project.
South Africa and many other countries are seeking to move away from coal and gas to cleaner energy sources like wind and solar.
The Head of the Presidential Climate Finance Task Team Daniel Mminele says partnerships with other countries are crucial to South Africa’s just transition.
The United Kingdom, Germany, France, the US and the EU pledged an initial amount of $ 8.5 billion over the next three to five years to assist South Africa in cutting its reliance on coal.
This was announced at the COP26 in Scotland, Glasgow. Mminele has told the media in Pretoria that the project is on course.
He says, “We have made it clear that the funding instruments should reflect South Africa’s unique finance needs and fiscal challenges and appropriately equitable risk-sharing arrangements, this includes any terms of the loan should be attractive.”
Earlier this month, Minister of Mineral Resources and Energy Gwede Mantashe announced that 150 megawatts of new electricity are expected to connect to the national grid in the next 12 to 18 months.
Mantashe officiated the signing of power purchase agreements involving three power supply projects awarded to the Norwegian-based company Scatec.
The projects are part of the Risk Mitigation Independent Power Producer Procurement Programme, aimed at addressing Eskom’s electricity crisis.
All three are based in Kenhardt in the Northern Cape province.