U.S., EU Make $8.5 Billion Payment To Support South Africa’s Energy Transition

The United States supports South Africa’s transition to cleaner energy and will help mobilize financing from the private sector to assist the country which is heavily dependent on coal, U.S. Secretary of the Treasury Janet Yellen said on Friday during a visit to South Africa.   Currently, coal is by far the major energy source for South Africa, accounting for around 80 percent of the country’s energy mix. The country is also the world’s fifth-largest coal exporter. But South Africa is going through a major energy crisis…