Private sector keen to fill the JET gap?
Businesses are ready to fund up to R500bn of the just energy transition investment plan
SA’s private sector stands ready to fund up to R500bn of the almost R1.5-trillion just energy transition (JET) investment plan that President Cyril Ramaphosa unveiled on Friday ahead of the COP27 climate summit, which opened in Egypt on Sunday, with some of those projects already under way.
The plan, which is the first of its kind globally, was sparked by the $8.5bn (R128bn) that the UK, US, France, Germany and the EU offered to support SA’s just energy transition at COP26 in Glasgow a year ago. It was approved by the cabinet last week and endorsed by the international partner group and is expected to be launched formally by the leaders of the group and Ramaphosa in Egypt this week. It outlines the total investment needed over the next five years — in electricity, green hydrogen and new-energy vehicles — to enable SA to achieve its ambitious climate targets in a just way...
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