Germany Ready to Help Fund $22 Billion South African Grid Revamp
- Envoy says it could provide a substantial amount of money
- Germany is part of $9.3 billion climate pact with South Africa
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Germany is willing to help fund the 390 billion rand ($22 billion) that South Africa said it needs to incorporate more solar and wind power into the national grid and ensure its energy security.
The European nation will be able to provide some funding once the scope for the grid-expansion project has been determined, according to its special envoy for a climate-finance pact between South Africa and some of the world’s richest countries. The deal, which was agreed in 2021 and is now worth $9.3 billion, has been criticized for its slow implementation.