EU invests an extra $13 billion in South Africa

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South Africa’s path to cleaner power just received a major boost with a $13 billion investment pledge from the European Union. The funds will help build new renewable power plants, upgrade ageing grids, and expand energy storage capacity, a critical step toward transforming one of the world’s most carbon-intensive electricity grids.

• The new funding builds on the $5 billion announced in March, reaffirming Europe’s long-term commitment. It will mobilise public and private capital through the EU’s Global Gateway initiative.

• Following power sector reforms, South Africa has attracted over $20 billion in funding and commitments since the start of the year.

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