Energy Capital & Power

AfDB, UK Grant $1B Guarantee for South Africa’s Just Energy Transition

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South Africa Renewables

The African Development Bank (AfDB) Group, in partnership with the UK Foreign Commonwealth and Development Office, has given the green light for a one-billion-dollar guarantee initiative to fund South Africa’s Just Energy Transition (JET).

The initiative is designed to support various projects aligned with South Africa’s JET investment plan. Key areas of focus include transmission and grid-balancing storage, renewable energy generation, energy efficiency, rehabilitation of municipal electricity delivery, green hydrogen initiatives, and the introduction of new electric vehicles.

“This marks an important partnership between our government, the UK and the AfDB to enhance our ability to implement South Africa’s JET in a way that is just and socially responsible,” said Mmakgoshi Lekhethe, Deputy-Director General for Asset and Liability Management in South Africa’s National Treasury.

Notably, the program encompasses projects addressing the “just” dimension, with a specific emphasis on the Province of Mpumalanga in the north-eastern part of the country, bordering Swaziland and Mozambique.

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Thaakira Samodien

Thaakira Samodien

Thaakira Samodien is a strategic content writer at Energy Capital and Power. She has a shared passion for writing and is an advocate for the growth and development of African Nations