Is ending loadhshedding in 24 months possible?
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South Africa, the world’s 13th-biggest source of greenhouse gases, will need to spend $250 billion (about R4-trillion) over the next three decades closing down its coal-fired power plants and replacing them with green energy, according to a recent consultation paper.
The Blended Finance Taskforce and the Centre for Sustainability Transitions at Stellenbosch University said that in addition to closing down the country’s coal-fired plants and building wind and solar power plants, money will need to be spent compensating coal-dependent communities whose livelihoods are threatened by the change, and investing in grid capacity
Most of the money will need to come from the private sector, according to the paper.
The estimate comes as South Africa, which relies on coal for more than 80% of its electricity, is in the process of negotiating $8.5 billion in climate grants and concessional loans with some of the world’s richest nations. The potential deal, announced at last year’s COP26 climate summit in Glasgow, envisages South Africa retiring some of its coal-fired power plants.
To discuss this Michael Avery is joined by Mark Swilling, a professor at the Centre for Sustainability Transitions at Stellenbosch University and Amar Bhattacharya is a senior fellow in the Center for Sustainable Development, housed in the Global Economy and Development program at Brookings
The Blended Finance Taskforce and the Centre for Sustainability Transitions at Stellenbosch University said that in addition to closing down the country’s coal-fired plants and building wind and solar power plants, money will need to be spent compensating coal-dependent communities whose livelihoods are threatened by the change, and investing in grid capacity
Most of the money will need to come from the private sector, according to the paper.
The estimate comes as South Africa, which relies on coal for more than 80% of its electricity, is in the process of negotiating $8.5 billion in climate grants and concessional loans with some of the world’s richest nations. The potential deal, announced at last year’s COP26 climate summit in Glasgow, envisages South Africa retiring some of its coal-fired power plants.
To discuss this Michael Avery is joined by Mark Swilling, a professor at the Centre for Sustainability Transitions at Stellenbosch University and Amar Bhattacharya is a senior fellow in the Center for Sustainable Development, housed in the Global Economy and Development program at Brookings
