SA secures R130 billion for energy transition

Johannesburg – South Africa has secured more than R130-billion to help it transition away from coal to cleaner forms of energy.

President Cyril Ramaphosa has announced that governments including the United Kings, the United States, France and Germany agreed to fund the commitment at the COP26 gathering in Glasgow.

The climate conference has set the goal of raising $100 billion a year for the next five years to help developing countries with climate-change mitigation and adaptation.

The president said the funds will accelerate investment in renewable energy and the development of new sectors such as electric vehicles and green hydrogen.

The money will also help Eskom repurpose coal-fired power stations due for decommissioning over the next 15 years.



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