Despite the 8.5 billion obtained last year, the country needs at least 500 billion to achieve carbon neutrality
South Africa is a major greenhouse gas emitter and has received $ 497 million from the World Bank for the conversion of one of its old coal-fired power plants.
80% of the energy produced by the first industrial power in Africa comes from coal , a fundamental raw material for the South African economy and which employs almost 100,000 people. However, the state-owned company Eskom is unable to produce sufficient electricity, in particular due to the plants which have an average age of about 41 years and are poorly maintained.
The 497 million was provided by the World Bank in the form of loans and grants for the purpose of converting the Komati power plant , which was closed permanently after 60 years of operation. This plant consumed 12 thousand tons of coal every day, producing double the electricity produced by all the other plants in the country.
The transformation of the Komati plant will serve as an example for the energy transition and will be converted into a renewable energy production site where 150MW of solar energy , 70MW of wind energy and 150MW of storage batteries will be installed .
Last year, South Africa obtained $ 8.5 billion in loans and grants to finance the energy transition, even though the country needs at least $ 500 billion to achieve carbon neutrality by 2050, according to the World Bank.
- South Africa, almost 500 million from the World Bank to abandon coal (geagency.it)
