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.

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