Money is tight in this country and the budget is increased? Higher taxes are necessary because we have so many important projects at home that urgently need to be funded? Apparently there is no income problem, but an expenditure problem! Would you like a current example? Germany is ready to help finance the 390 billion rand ($22 billion) South Africa needs to integrate more solar and wind energy into the national grid and ensure energy security. Germany will be able some According to Bloomberg, the special representative for the climate finance agreement between South Africa and some of the richest countries in the world currently says that the funding will be available as soon as the scope of the project goes Verify network expansion. The agreement, which was reached in 2021 and is now worth $9.3 billion, has been criticized for its slow implementation.
“Investment is needed in the quality and quantity of the network,” said Rainer Baake, commissioner for the network Just Energy Transition PartnershipThursday in the South African capital of Pretoria. “We can allocate a lot more money to the grid.” South Africa has suffered intermittent power cuts since 2008 and needs to accelerate the expansion of its grid as it transitions from coal, which accounts for four-fifths of its electricity, to energy renewable. Although the system is strong in the center and east of the country, where the industrial base and the coal belt are, the best solar and wind resources are in the west.
Efforts to expand the amount of electricity the network of transmission lines can carry have been hampered by red tape surrounding a plan to split national power utility Eskom Holdings into generation, transmission and distribution divisions . Although a board of directors has been appointed for the distribution company, there is still no decision on how private investors can participate in the construction and operation of the lines.
Baake spoke at a press conference on a visit by Jochen Flasbarth, Secretary of State in the German Ministry for Economic Cooperation and Development, and Jennifer Morgan, Secretary of State and Special Representative for International Climate Action. German officials met this week with South African government officials, including Finance Minister Enoch Godongwana.
Other members of the agreement that have pledged funding include France, the United States, Great Britain, the European Union, the Netherlands and Denmark. In addition to the grants, only 1.1 billion euros in loans from Germany and France have been provided under the agreement so far.
By delaying the closure of three coal-fired power stations, South Africa has also raised concerns about failing to meet JETP’s agreed target of reducing annual emissions to around 350 million tonnes of carbon dioxide or such as by 2030. The country is the world’s 15th largest producer of climate-changing gases.
“From a climate perspective, this is not ideal,” Flasbarth said. He said the decision was understandable given South Africa’s repeated power outages, but declined to say whether authorities had clarified how the country intended to meet the targets. “We are patient, we are waiting for the recommendations they will give us and in the meantime we are continuing our support.”
German representatives praised South Africa for passing specific climate and energy legislation this year in the form of climate change legislation and changes to electricity regulation. However, they asked South Africa to make better use of the existing transmission lines by allowing a so-called thrust. This allows more renewable energy producers to be connected to the grid, as long as they do not feed all the electricity they produce into the grid during peak supply times. This could mean compensation for power producers.
FMW: The exact amount that Germany is giving to South Africa is not clear from the current statement. But you can see that there seems to be money available even when the federal government is facing serious budget problems to do “good things” far from home. One can think that people in the house of Habeck, or the house of Baerbock, or the Federal Ministry for Cooperation and Economic Development will not be small?
FMW/Bloomberg
2024-09-07 09:43:42
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