Standard Chartered warns on extending use of coal plants in SA, Business Day says

Standard Chartered warned South Africa that extending the lifespan of coal-fired power plants is unlikely to attract investment to the country, Business Day reported. Investors want to avoid being trapped in stranded assets given the global shift away from fossil fuels, the Johannesburg-based newspaper said, citing Standard Chartered Bank Southern Africa Chief Executive Officer Kweku Bedu-Addo.

South Africa’s Electricity Minister, Kgosientsho Ramokgopa, has recommended that the government extend the lifespan of coal-fired plants to help resolve a deepening energy crisis that’s resulted in Eskom implementing blackouts for as long as 12 hours a day.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Security guard pension board paid themselves for 493 meetings in a year | BusinessThe Financial Services Tribunal says nine 'incompetent' members of the fund that oversees the retirement benefits of security guards paid themselves unjustified fees for pointless meetings. | JanTamb News24_Business
Source: News24 - 🏆 4. / 80 Read more »