Climate Investment Funds approve R47bn coal-exit plan for SA
A World Bank-linked climate fund will back South Africa's plans to decommission coal power stations.
The approval by Climate Investment Funds will unlock R47 billion to boost the energy transition.
The US did not oppose the approval of the funding, says an official.
For climate change news and analysis, go to News24 Climate Future.
A World Bank-linked climate fund has backed South African plans to cut its reliance on coal, unlocking up to $2.6 billion (~R47 billion) in financing and giving the nation's energy transition an unexpected boost.
The approval of the updated plan by the Climate Investment Funds, which was stalled after South Africa last year asked to delay the closure of three coal-fired power plants to ease an energy crisis, will see the CIF disburse $500 million (~R9 billion) to the country.
That clears the path for as much as $2.1 billion (~R38 billion) from multilateral lenders including the World Bank and the African Development Bank, plus other sources.
'CIF's Clean Technology Fund Trust Fund Committee approved an update to South Africa's Accelerating Coal Transition investment plan' on 11 June, the fund said in a response to queries.
READ | PIC leads a R660 million pledge for green hydrogen
Under the plan, it said South Africa can now put forward detailed costing for projects it had outlined and then get approval for their funding from the trust. It referred additional questions on financing to the South African government, which confirmed that the plans are still in place.
At the Presidential Climate Commission quarterly meeting on Friday, Rudi Dicks of the Just Energy Transition Project Management Unit noted the CIF board's approval of the plan.
The US did not oppose the approval, as that was a concern, Bloomberg previously reported.
South Africa, back around September, asked to alter the plan, which had originally been endorsed in 2022.
That request delayed approval until after the 20 January inauguration of US President Donald Trump and subsequent pullback by the US from a range of international climate initiatives. The actions of US representatives then thwarted an opportunity to support the South African plan in March, people familiar with the situation said at the time.
'Consensus has been reached. But however, the US has indicated that it does not as an individual country support the revised proposal that we've made…,' said Dicks. South Africa had pushed out the decommissioning schedules out to 2030, Dicks explained.
He added that the CIF approval is important given that the funding is the initial drive for the just energy transition. The $500 million would have a multiplier effect to unlock a further $2.6 billion, Dicks emphasised.
'Our diplomacy has paid off in my view, and unlocking that through the CIF board has been an important step.'
The financing will play an important role in South Africa's energy transition. The country relies on coal for about 80% of its electricity generation and has the most carbon-intensive economy of any country in the G20.
Eskom is the recipient of the funding aimed at decommissioning Camden, Grootvlei and Hendrina in 2030.
READ | Decision nears on R47bn of climate funds for South Africa
Of the 15 contributors to the $12.5 billion CIF the US was the biggest as of end-2024, having provided $3.8 billion. It's closely followed by the UK at $3.6 billion. Germany, Japan and Canada have each contributed more than $1 billion.
Disbursements by the CIF can be blocked if any of the nations that have contributed to the funds object or ask for more time to seek additional details on what the funds will be used for, and under what conditions. Approval can be granted if a country abstains rather than votes against the plan. It's unclear how voting went on 11 June.
The US State Department referred queries to the Treasury. The Treasury didn't respond to an earlier request for comment.
Earlier this year the US withdrew from plans backed by rich nations to help Indonesia, Vietnam and South Africa reduce their reliance on coal. That step cost South Africa $1 billion in loans. Shortly after his inauguration, Trump promised to yank the US out of the Paris Agreement, an international climate pact. He also cancelled a pledge of $4 billion to another international climate institute, the Green Climate Fund.
Separately, relations between the US and South Africa have been strained.
Trump also halted aid to the country and his top officials have boycotted G20 meetings hosted by South Africa this year.
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Associated Press
4 hours ago
- Associated Press
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This invention enables both functions over the same wire pair by briefly pausing the charge current, opening a switch, and using that moment to measure the battery's voltage through the same lines. A pulse isolation drive circuit is used to manage this operation safely and reliably, even when voltage levels are floating or unstable. The result is a simplified yet highly accurate system that maintains the integrity of voltage readings while eliminating the need for redundant hardware. This two-wire approach offers a more efficient and cost-effective solution for modern battery systems that demand reliability, safety, and scalability. 1 Battery University, 2, IEA, 3 U.S. News 4 Rho Motion - Global EV Sales 2024, 5 IEA Global EV Outlook 2024, 6 IEA, 7 U.S. News, 8 Recurrent Auto About Battery X Metals Inc. Battery X Metals (CSE:BATX) (OTCQB:BATXF) (FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini Bressi Chief Executive Officer Email: [email protected] Tel: (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release relate to, among other things, the Company's objectives, strategies, and future plans regarding the continued development, validation, patenting, and commercialization of proprietary lithium-ion battery rebalancing software and hardware technologies. Specific forward-looking statements include, but are not limited to, statements regarding the performance, applicability, and scalability of Prototype 2.0 across electric vehicle battery platforms; the Company's ability to file and obtain full utility patents from the USPTO; the anticipated benefits of the Company's rebalancing technology in extending battery life, restoring lost capacity, and reducing the need for costly replacements; the Company's positioning as a participant in the EV battery rebalancing and lifespan extension market; and the potential market adoption and commercial deployment of the Company's proprietary platform. These forward-looking statements are based on current expectations, estimates, assumptions, and projections that the Company believes to be reasonable as of the date of this release. However, such statements are inherently subject to significant technological, scientific, business, operational, regulatory, and economic risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: uncertainties related to the USPTO patent application process and the scope of intellectual property protection ultimately granted; challenges in achieving consistent results across different battery chemistries, configurations, and EV platforms; delays in further testing, development, or market readiness of Prototype 2.0; risks related to commercial deployment and market acceptance; changes in industry demand, regulation, or competitive landscape; and general macroeconomic, geopolitical, and capital market conditions. Forward-looking statements reflect the beliefs, assumptions, and expectations of management at the time they are made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements and are encouraged to consult the Company's continuous disclosure filings available under its profile at for additional risk factors and further information. SOURCE: Battery X Metals press release
Associated Press
8 hours ago
- Associated Press
Several killed as separatists clash with Malian army, Russian allies in the conflict-hit north
BAMAKO, Mali (AP) — Malian security forces clashed with members of an armed separatist group over two days, resulting in the deaths of 10 separatists, the Malian army said Friday. The Azawad separatists said it killed dozens of Malian soldiers and members of a Kremlin-controlled armed force. The clashes began with a military offensive in the northern Kidal region on Thursday, the Malian army said in a statement. On Friday, the Malian military's logistics convoy was ambushed before the attack was repelled, it added. The separatists reported they killed 'dozens' of Malian soldiers and fighters with the Kremlin-controlled African Corps in the ambush. The Azawad separatist movement has been fighting for years to create the state of Azawad in northern Mali. They once drove security forces out of the region before a 2015 peace deal that has since collapsed was signed to pave the way for some ex-rebels to be integrated into the Malian military. 'We recovered 12 trucks loaded with cereals, tankers full of diesel, one military pickup, and one armored vehicles from the 30 vehicles in the convoy,' Mohamed Maouloud Ramadan, spokesman for the Azawad separatists, said in a statement that acknowledged the death of three of their members. Viral videos shared by the separatists showed military trucks on fire in a large swathe of desert land amid gunfire as gun-wielding hooded young men posed in front of the trucks. The videos also showed bodies with uniforms that resemble those of the Malian army. The Associated Press could not independently verify the videos. The latest clashes show how difficult it is for security forces in Mali to operate in difficult terrains like Kidal, according to Rida Lyammouri, a Sahel expert at the Morocco-based Policy Center for the New South think tank. 'It's difficult to gather actionable intelligence to protect their convoys, and this gives a significant advantage to armed and jihadist groups', said Lyammouri. The latest attack occurred days after Russia's mercenary group Wagner – which for more than three years helped Malian security forces in the fight against armed groups – announced it was leaving the country. The Africa Corps, under the direct command of the Russian defense ministry, said it will remain in Mali. There are around 2,000 mercenaries in Mali, according to U.S. officials. It is unclear how many are with Wagner and how many are part of the Africa Corps.
