South Africa gets R10 billion loan from Germany to move away from coal17 Nov 2023 17:40
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Germany, through its KfW development bank, will on Friday sign an agreement to lend South Africa €500 million (R10 billion) at below commercial market rates to help it transition away from the use of coal-fired electricity.
...The researchers considered three scenarios on how the country’s energy sector may develop until 2040.
The Economic Transition Scenario: The lowest cost route would see a massive expansion of solar power capacity to 65 gigawatts by 2040, with wind adding 21 gigawatts and battery storage 31 gigawatts. Five gigawatts of gas-fired power would be built and by 2040 65% of energy would come from renewables compared to 8% in 2021.
Coal Extension Scenario: Coal would account for 58% of generation in 2030, from more than 80% today, and 29% in 2040. By that date there would be 79 gigawatts of wind and solar.
Clean Power Scenario: This would take South Africa closest to its target of reaching so-called net zero emissions by 2050. There would be 13 gigawatts of gas or hydrogen-fired power and 105 gigawatts of wind, solar and batteries by that date.