UK bank says allocating capital to coal-fired plants could leave private investors ‘stranded’
Standard Chartered, one of the biggest providers of sovereign debt solutions to African nations, has become the latest big-name financial services firm to pour cold water on plans to encourage private sector investment into Eskom’s coal-fired power plants.
Kgosientsho Ramokgopa, the electricity minister, in April urged “bold and decisive” action to enable private investment in Eskom’s ageing plants to extend their lifespan in an attempt to alleviate SA’s electricity crisis. But the plan flies in the face of SA’s stated commitment to the just energy transition, which targets the achievement of net-zero carbon emissions by 2050...
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