- Advertisement -spot_img

IFC Could Fund Controversial Gas-Power Ships In South Africa

- Advertisement -spot_img

Must read

 

THE World Bank’s International Finance Corp. said it expressed interest in funding bidders in a South African tender for emergency power provision, including a Turkish supplier of gas-fired power plants on ships, putting it on course for a clash with climate activists.

Karpowership, the Istanbul-based company, won the bulk of the bids in March and has until the end of July to secure funding and necessary approvals and agreements to make binding a pact to supply 1,220 megawatts of power for 20 years.

The potential involvement of the IFC comes as environmental groups pressure investors, including development finance institutions, to halt investment in fossil fuels such coal, oil and natural gas. Most other bidders in the round relied at least partially on renewable energy.

Activists and the main opposition party in South Africa unsuccessfully pressed for a parliamentary inquiry into the award of preferred bidder status to Karpowership, while

You’ve reached your free article limit

Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.

Subscribe now

Need help? molokom@insidepolitic.co.za

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Inside Education E-edition August 2026

spot_img

Services Seta 2026

spot_img

CATHSSETTA

spot_img

AVBOB STEP 12

spot_img

Inside Metros G20 COJ Edition

spot_img

JOZI MY JOZI

spot_img

QCTO

spot_img

Latest article