HOW WILL THE MONEY BE USED?

Before announcing the decision at Sharm el-Sheikh International Convention Center in Egypt where COP27 was held, President Ramaphosa spent a year negotiating with organisations and international partners on how the funds would be spent.

The JET-IP will roll out over the next five years with the funds being put towards:

⬛ Coal plant decommissioning – this includes stopping production at power plants, removing the equipment and materials and reusing the space for green energy.

⬛ Providing funding for communities that were employed in coal-mining areas.

⬛ Investing in renewable energy such as solar and wind resources to produce electricity.

“Our support for South Africa’s clean energy and infrastructure priorities, which include efforts to provide coalminers and affected communities the assistance that they need in this transition, will help South Africa’s clean energy economy thrive,” says US president Joe Biden.