South Africa’s plans to transition to clean energy have been given a EUR4.7 billion boost.
In addition to supporting the development of the country’s renewable energy plans, the European Union’s (EU) Global Gateway Investment Package is also aimed at improving local vaccine manufacturing, reports Energy, Capital & Power
The investment was announced by European Commission president, Ursula van Leyen, during the eighth EU-South Africa Summit held in Cape Town on 13 March.
During the summit, the EU and South Africa also agreed to start talks as part of a Clean Trade and Investment Partnership, focusing on the clean energy transition, skills technology, and developing strategic industries along the entire supply chain
Van Leyen said part of the investment would target the development of critical minerals and green hydrogen value chains.
The investment follows the Scaling up renewables in Africa campaign, which was launched by Van Leyen and President Cyril Ramaphosa on the sidelines of the G20 Summit in November.
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