South Africa looks to nuclear, green power
SOUTH AFRICA - South Africa sees renewable and nuclear energy supplying two-thirds of new power plants constructed over the next 20 years as it seeks to cut its reliance on coal, a senior government official said.
Nelisiwe Magubane, director general at the department of energy, said the government expects renewable energy to supply 42 percent of its new power and nuclear energy 23 percent.
Coal will make up 15 percent of new power plants coming on stream in that same period. The fossil fuel currently makes up 95 percent of the country's energy mix.
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Speaking to the Treasury Committee in Parliament, Ramsden said officials in government and the central bank are dealing with huge economic shocks, notably the surge in energy prices that came with Russia’s attack on Ukraine. Investors are reassessing where interest rates and the fiscal stance are headed.
“Markets remain quite febrile,” Ramsden told members of Parliament in London on Monday. “Things have not settled down yet.”
He described the…
