South Africa shows how not to shut down a coal plant

South Africa shows how not to shut down a coal plant

Sub : IR

Sec: Places in news

Context:

• The Komati coal-fired power plant, South Africa’s oldest coal-fired power plant, was shut down in 2022 as part of a green energy transition.
• The delay in transition however, has led to increased unemployment.
• Coal provides 80% of South Africa’s power and the country is among the world’s top 12 largest greenhouse gas emitters. Coal sector is also a major employment provider.

About Komati power plant:

• It is 63-year-old power plant in the coal belt in Mpumalanga province of South Africa.
• The Komati Power Plant is the first coal plant to be decommissioned under JETP, with more scheduled for closure by 2030.

Just Energy Transition Partnership (JETP):

• JETP is a funding initiative aimed at helping developing countries shift from fossil fuel-based energy systems to clean, renewable sources.
• It seeks to bridge the gap between wealthier nations and coal-dependent countries, focusing on both the environmental and social aspects of the energy transition.
• It was launched at the COP26 in Glasgow with the support of the United Kingdom (UK), the United States (US), France, Germany, and the European Union (EU).
• The countries currently involved in Just Energy Transition Partnerships (JETPs) are: Indonesia, Senegal, South Africa, and Vietnam.

South Africa and JETP:

• South Africa was the first country to enter into a JETP at the COP26 in Glasgow.
• South Africa is one of the key countries benefiting from the JETP and has received $13.6 billion in grants and loans to assist with its energy transition.