• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Project Dearth Slows South Africa’s $9.3 Billion Coal Exit Plan

10 months ago
in Business, Economy, Energy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
65
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Project Dearth Slows South Africa’s $9.3 Billion Coal Exit Plan

The implementation of a $9.3 billion climate-finance pact between South Africa and some of the world’s richest nations has been slowed by an absence of investable projects, the African country’s presidency said.

The Just Energy Transition Partnership, a unit in the presidency, will unveil a platform to nurture projects later this month to help speed up progress, according to Joanne Yawitch, head of its project management unit.

Yawitch, who spoke at a seminar in eMalahleni, a city at the heart of South Africa’s coal belt in the eastern Mpumalanga province, said the JETP Funding Platform will focus on finding projects and sourcing startup capital and credit enhancement. The pact, agreed in 2021, is seen as a global prototype for how coal-dependent developing nations can switch to cleaner energy.

“There is a very limited project pipeline, it’s not a Mpumalanga problem, its a national problem,” Yawitch said on Wednesday. Through the platform “we can really ensure that there is a much greater flow of this funding,” she said.

The JETP — a partnership between South Africa and Germany, France, the US, UK, European Union, Netherlands and Denmark — is being emulated by Vietnam and Indonesia. It’s meant to boost renewable-energy production, accelerate the development of other green industries and cushion affected workers and communities from the impact of closing coal-fired power plants. South Africa currently relies on coal for about four-fifths of its electricity.

Aside from loans to South Africa’s National Treasury from France and Germany, little of the funding has been disbursed to date.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

“We are looking for projects and we are eager,” Elsebeth Søndergaard Krone, Denmark’s ambassador to South Africa, said in an interview.

Denmark has earmarked $165 million in concessional loans and grants to help fund projects, she said.

At the event in eMalahleni, ambassadors and other representatives from Denmark, France, Germany and the UK detailed a series of projects that they are backing, ranging from re-skilling programs for workers to mapping the wind power generation potential of Mpumalanga, boosting fruit and nut farming and providing solar power for poor communities.

Political Infighting

Political infighting, labor-union opposition and delays to planned closures of coal-fired power plants have all helped slow implementation.

Representatives from the National Union of Mineworkers and National Union of Metalworkers of South Africa, the biggest labor groups in the mining and the power-generation industries, expressed concern about energy transition at the event.

They said they hadn’t been consulted about the pact, that workers and communities were confused and they feared that any money spent would flow back to consultants and companies from the investment partner nations.

“Its a difficult conversation,” David Martinon, France’s ambassador to South Africa, said of the energy transition. “It’s a long and complex process.”

Source: bloomberg
Via: norvanreports
Tags: $9.3 Billion Coal Exit PlanProject Dearth Slows South Africa’s $9.3 Billion Coal Exit PlanSouth Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.