Thursday, January 26 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Jan 23
Week of Jan 16
Week of Jan 09
Week of Jan 02
Week of Dec 26
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Just Energy Transition investment plan is a matter of national importance, Mineral Resources and Energy Committee resolves

    December 6, 2022 - M2 PressWIRE


      The Portfolio Committee on Mineral Resources and Energy was briefed on the Just Energy Transition (JET) investment plan by the Minister in the Presidency, Mr Mondli Gungubele. The committee thereafter resolved that, as the plan is a matter of national importance, it requires more time for deliberation and consultation.

      The committee then undertook to hold a follow-up meeting in the first quarter of 2023. The committee also learnt that the JET investment plan will require total investment of R1.5 trillion over a five-year period to cover three priority sectors, namely electricity, new energy vehicles (NEV) and green hydrogen.

      However, the government has projected a funding gap of R700 billion. Over a five-year period, the electricity sector alone will require an investment of R1 030 billion to cover infrastructure, just-transition measures in Mpumalanga, and sector-wide as well as municipal support measures.

      The NEV sector will require R128.1 billion in order to transition the automotive sector value chain to protect sector employment and promote sustainable manufacturing. The green hydrogen sector will require R319 billion to position South Africa as a leading exporter and for use locally in hard-to-abate sectors, including the provision for port infrastructure.

      The committee was concerned about fundraising, consultation and abrupt decommissioning of coal-fired plants. The committee Chairperson, Mr Sahlulele Luzipo, said that the committee may consider inviting the National Treasury to hear how the investment shortfall will be covered.

      Distributed by APO Group on behalf of Republic of South Africa: The Parliament.



    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.