Announcement of JET Investment Plan at COP27 is a milestone

It covers the steps needed to increase clean energy, support new green industries and manage the transition justlyAntony Philipson, Arnaud Roux, Andreas Peschke, Reuben E Brigety II and Sandra Kramer

The JET Partnership is rightly an SA-led process, and President Cyril Ramaphosa’s announcement of the JET Investment Plan at COP27 is a real milestone. It sets out SA’s priorities for the energy transition and will help guide how our $8.5bn is spent: it covers the steps needed to increase clean energy, support new green industries such as electric vehicles and green hydrogen, and manage this transition justly.

Transition is a decades-long process and there will be bumps along the way. Europe did not foresee that it would need to come off Russian gas so quickly due to the Ukraine war. But we are even more determined to shift towards renewables, with use of coal a strictly temporary measure. EU emissions will still reduce this year, with 50GW of new renewable capacity and plans for an extra 100GW next year.

The release of SA’s JET Investment Plan means our work now turns to implementation and getting funding moving. There has been early progress. The Climate Investment Funds recently approved $500m of concessional capital, 65% funded by the UK, US and Germany, to support the repurposing and repowering of three power stations, as well as community development projects in Mpumalanga, and will leverage a further $2.1bn of finance.

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