President Cyril Ramaphosa says the government is implementing the Just Energy Transition (JET) at a pace and scale that the country can afford.
The Electricity Regulation Amendment Bill to support the restructuring of Eskom and establish a competitive electricity market was tabled last year.
The President delivered the 2024 State of the Nation Address at the Cape Town City Hall on Thursday evening.
Ramaphosa says with these reforms government is positioning the country’s economy for future growth in a world shaped by climate change.
“With our abundance of solar, wind and mineral resources, we are going to create thousands of jobs in renewable energy, green hydrogen, green steel, electric vehicles and other green products. The Northern Cape, with its optimal solar conditions, has already attracted billions of rands in investment. We are going to set up a Special Economic Zone in the Boegoebaai port to drive investment in green energy. There is a great deal of interest from the private sector to participate in the boom that will be generated green hydrogen energy projects.”
President Ramaphosa delivers the 2024 State of the Nation Address