OUR BURNING PLANET: Standard Bank withdraws funding of new coal IPP projects in SA By Chris Yelland and Roger Lilley for EE Publishers
in an article in September 2018, Standard Bank has now explicitly confirmed to EE Publishers in writing that “as things stand presently, Standard Bank is not involved in the financing of either the Thabametsi or Khanyisa [new coal IPP] projects”.clarifying the Standard Bank Group’s position on financing coal-fired power stations in Africa and globally.
The latest media statement from Standard Bank says it “has set up a strict set of parameters that will guide all future financing decisions as they relate to new coal powered stations. These parameters apply to the Standard Bank Group and to all its operations globally. If a proposed development does not meet these parameters, Standard Bank will not provide finance”.
The Thabametsi and Khanyisa plants are designed around circulating fluidised bed boiler technology operating at sub-critical pressure and temperature, giving efficiencies of about 32%. The DoE’s draft Integrated Resource Plan for electricity, issued for public comment in 2018, included 1,000 MW of new coal power in the country’s energy mix. According to12,000 MW of coal-powered electricity generation will be decommissioned by 2030, with only a further 6021 MW added, of which 5021 MW is already committed and under construction via Eskom’s Medupi and Kusile projects, and the further 1,000 MW coming from the Thabametsi and Khanyisa projects in 2023 and 2024.
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