South Africa Will Provide a New Timeline for the Shutdown of Coal-fired Power Plants

This is in a bid to secure about $2.5 billion in climate finance, an agency in President Cyril Ramaphosa’s office said. The timetable to be proposed to the Climate Investment Funds in June aims to ensure the country remains on track to obtain funding under the so-called Just Energy Transition Partnership — a $9.3-billion pact with some of the world’s richest nations. Under the agreement, first announced in 2021, South Africa will receive the assistance on condition it cuts its dependence on coal, which accounts for four-fifths of the nation’s electricity output.

BLOOMBERG