On Thursday, 2 September 350Africa.org handed over a formal petition to the Development Bank of Southern Africa (DBSA), ABSA and Investec. The petition, signed by over 1000 people, calls on these financial institutions to publicly and proactively commit to not funding the controversial deal.
This 20-year contract is worth more than R218-billion, but will make electricity more expensive for South Africans as the Karpowership tariffs depend predominantly on imported fossil fuels, as well as the volatile US Dollar to Rand exchange rate. This unprecedented contract will tie South Africa into a future dependent on non-renewable, climate-damaging fuels, long after the electricity supply gap has been closed. Read more.
Gas-to-power ships are not the solution to South Africa’s energy crisis.
#KarpowerSA has been selected as a preferred bidder to provide electricity to Eskom from their gas-to-power ships for the next 20-years. This 20-year contract is worth more than R218-billion but will make electricity more expensive for South Africans.
South Africa needs access to clean, affordable electricity yet the Department of Mineral Resources and Energy wants to commit us to using dirty and expensive generation technology for the next 20-years.
“Enriching the few at the expense of the many”
For these reasons, we are calling on the Development Bank of Southern Africa (DBSA), the Industrial Development Corporation (IDC) and private finance institutions to publicly commit to not fund the Karpower deal and tie South Africa into expensive fossil-fuel electricity for the next 20 years.
Tweet: Spare a minute and send a tweet to Minister of Energy, Gwede Mantashe or the DBSA and IDC to show your disapproval of the Karpower deal. You can click any of the buttons below to Tweet right away.
.@GwedeMantashe1 South Africa needs clean energy, local investment and social justice. #KarpowershipSA gives us none of these. #StopKarpowershipSA #ClimateChange #JustTransition
.@IDCSouthAfrica @DBSA_Bank Will you fund dirty #KarpowershipSA or cheaper renewables & local expertise? Time to support a #JustRecovery & fight #ClimateChange while fixing SA’s energy problems. #StopKarpowershipSA
Is your bank financing the Karpowership project? Ask them on social media and tag @350Africa in your post.
Karpowership environmental concerns
Op-eds on Karpowership deal
Flawed RMIPPP bidding process
Other Karpowerships irregularities