Keynote address: Collaboration to fast forward Africa’s energy transition
Ministerial address: Minister Gwede Mantashe, Minister, Department of Mineral Resources and Energy, South Africa
Keynote panel discussion South Africa’s $8.5 billion energy transition deal, signed at COP26, is made up of financial instruments including government grants, concessional loans and “risk-sharing instruments” designed to mobilise the private sector, over a three-to-five-year period. In practice, this funding will serve three goals: early retirement of coal plants, building cleaner energy sources, and support for coal-dependent regions. Retiring coal plants and supporting coal-dependent regions will be a political challenge. The transition away from coal threatens 120,000 jobs at heavily unionized mines and power plants, in a country that by some measures has the world’s highest unemployment rate and where one job often feeds a large family.
But the energy transition will also require new energy sources and thus new jobs (though those rarely go to former coal workers).
- Allocation of funding, breakdown of grants vs loans and other risk sharing instruments
- Plans to address the loss of jobs at power plants and mines and reskill the existing workforce
- Proposals to effect the energy transition
Moderator: Max Jarrett, Energy Expert, France
- Daniel Mminele, Head of the Presidential Climate Finance Task Team, South Africa*
- Andre de Ruyter, Group Chief Executive, Eskom, South Africa*
- Mark Corrato, Power Africa Coordinator, Power Africa, United States
- Senior representative, GE
- Senior representative, United Kingdom*