Investors Withdraw Financing For "Dirty" South Africa Power Projects

10 Nov 2020 by Staff - Water Diplomat
JOHANNESBURG, South Africa
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Continuation of construction of the 630 MW Thabametsi coal-fired power plant in Limpopo province is in doubt as key investors follow South Africa’s major banks who have withdrawn commitments due to continuing environmental activism. Only Marubeni Corporation of Japan, with a 50 Percent stake, remains.Limpopo is water-scarce, with concurrent water quality challenges.The country, reliant on coal to increase generation capacity, is also Africa’s biggest CO2 emitter and one of the world’s top-ten coal producers. Nevertheless, the government has pledged to reduce emissions by more than one-third by the end of 2020 under the Copenhagen Accord through retirement of numerous coal plants and increasing investment in renewable energy sources...

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