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South Africa should replace ageing coal plants with renewable energy power plants.
- Banks are reluctant to finance coal projects.
- There is no shortage of finance for clean energy projects.
The deputy chairman of South Africa’s Presidential Climate Change Coordinating Commission, Valli Moosa, stated that the country should replace ageing and inadequate electricity generation capacity with renewable energy plants. Moosa noted that while other countries have to put out their coal generation capacity, South Africa’s power plants are nearing the end of their lifespans which presents an opportunity to adopt clean energy to boost economic growth and cut emissions.
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The Presidential Climate Change Coordinating Commission is to develop a carbon reduction strategy for the country. The commission will meet on June 4 to analyse if the environment ministry’s proposed greenhouse gas reduction targets for 2025 and 2030 are adequate.