US Deputy Treasury Secretary Wally Adeyemo attributes South Africa’s power-supply crisis to a lack of political will.
- Adeyemo urges the country to expand its transmission network and shift away from coal for electricity generation.
- South Africa experiences frequent power outages due to reliance on aging and poorly maintained coal-fired power plants.
- The US is willing to help fund South Africa’s energy transition through a $9.3 billion climate finance pact.
- The US Treasury expresses frustration as South Africa has not taken up $2.5 billion in cheap loans offered through the pact.
- Adeyemo emphasizes that enabling renewable energy development is crucial for ending the electricity crisis sustainably and cost-effectively.
- Adeyemo suggests providing incentives for investment in mining metals needed for renewable energy plants and electric vehicle batteries while addressing corruption.