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Just Energy Transition Guarantee – South Africa
07 November 2022
Type
Written Ministerial Statement
Department
Foreign, Commonwealth and Development Office
At a Glance
Issue Summary
The statement discusses a new guarantee facility for South Africa's Just Energy Transition Partnership (JETP) proposed by the Foreign, Commonwealth and Development Office.
Action Requested
A departmental minute has been laid before Parliament detailing a £1 billion guarantee to support South Africa’s JETP. The announcement is expected at COP27 in November 2022, subject to parliamentary approval within 14 sitting days.
Key Facts
- $1bn guarantee facility will support South Africa's Just Energy Transition Partnership.
- Investment plan covers renewable energy, hydrogen, electric vehicles, and coal mining region projects.
- Approval by FCDO Ministers and HM Treasury has been secured.
- Announced at COP27 between 6-18 November 2022.
- Parliamentary notification process must be completed within 14 sitting days.
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