World Bank to finance R9.09bn Komati energy transition project

The World Bank has approved South Africa’s request to finance a $497 million * project to decommission and repurpose Eskom’s Komati coal power plant in Mpumalanga using renewable energy and batteries. This is in a bid to reduce carbon emissions and support job creation, under the country’s Just Energy Transition mandate. Read: Chimney collapses at Kusile power plant In a statement issued on Friday, the institution noted that the Komati JET project will be jointly financed with a $439.

“The end of Komati’s coal-fired journey marks the beginning of another exciting journey in the service of South Africa,” the power utility said. Emissions challenge “Reducing greenhouse gas emissions is a difficult challenge worldwide, and particularly in South Africa given the high carbon intensity of the energy sector,” notes World Bank Group President David Malpass. The institution elaborates that SA’s power sector accounts for 41% of the country’s carbon emissions.

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