UK Climate Envoy Rachel Kyte announces support for South Africa’s Wholesale Electricity Market reform and implementation

UK-based entities have announced support for South Africa’s energy transition through the Just Energy Transition Partnership (JETP). The UK is providing over £330,000 to the Energy Council of South Africa for market reform analysis and interim transmission solutions. GuarantCo and British International Investment (BII) are offering $100 million in guarantee finance to unlock $500 million in renewable energy projects, adding 500MW to the grid and reducing CO2 emissions by 1.2 million tonnes annually. This initiative supports South Africa’s transition to a lower carbon economy and job creation.