South Africa could lose billions in climate finance

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Climate Finance News

South Africa

South Africa is risking R170-billion in climate finance by delaying the closing of a number of coal-fired power plants.

risking a US$9.3-billion climate finance pact by delaying the closing of a number of coal-fired power plants, a panel appointed by the country’s environment minister said.

The worst power cuts on record last year prompted Eskom to delay shutting down the facilities. Eskom has said it has decided to postpone the decommissioning of three power plants — Grootvlei, Hendrina and Camden — until 2030.A unit in the South African presidency earlier this month made a presentation about the nation’s new plans to the World Bank-linked Climate Investment Funds, which is considering allocating $500-million to South Africa.

to advise her on an appeal by Eskom to keep power plants capable of producing 16GW of electricity open despite the breaching of emission limits. She accepted the recommendation that retrofitting five of the oldest plants with equipment to reduce sulphur-dioxide pollution was impractical and granted them exemptions until 2030.

 

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