France and Germany kick-start JETP with South Africa with €600m agreement

The French and German development banks, AFD and KfW, have signed agreements with the South African government to each extend €300-million in concessional financing to support the country’s transition to a cleaner energy system that is less reliant on coal. The €600-million is the first to be confirmed under the $8.5-billion Just Energy Transition Partnership (JETP) announced at COP26 in November 2021, and follows the publication by South Africa of the Just Energy Transition Investment Plan (JET-IP) ahead of COP27, which is currently under way in Sharm El Sheikh, Egypt.