PULLING THE PLUG

15th February 2019

By: Darlene Creamer

     

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Nedbank has confirmed that it will no longer participate in the funding of two coal-fired power stations to be built by independent power producers. Other domestic and local banks are more reticent in showing their hands, but are under increasing pressure not to support more domestic coal projects. Coincidently, the pullback from funding coal comes as South Africa begins introducing a new plug and socket standard, which will be rolled out progressively in the coming years.

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