Grow Network, Tackle Eskom Creditworthiness to Unlock Private Investments, Says US Treasury Rep
International partners are committed to helping South Africa transition from coal to clean energy.
Gallo Images/Business Day/Freddy Mavunda
South Africa has made progress in its policy reforms to unlock private investment in the energy sector, but Eskom’s solvency and the expansion of the transmission network are among the outstanding issues that need to be addressed. , noted a representative of the US Treasury Department.
John Morton, climate adviser for the US Department of Treasury on Tuesday at the Enlit Africa conference, shared more details on his country’s commitments to support South Africa’s transition to a low-carbon economy. His remarks were shared in a pre-recorded video at the conference, which is a gathering of African energy industry players.
The United States, along with Germany, France, the EU, and the United Kingdom, pledged last year at COP26 to mobilize $8.5 billion (~R130 billion) from the over the next three to five years to support South Africa’s decarbonization efforts. The funding is intended for the energy sector and the development of the hydrogen economy and the electric vehicle industry.
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