The last time they tried to build coal, the banks refused to loan funds. See:
Energy minister Gwede Mantashe has told parliament his department aims to procure 4.2GW of renewables by January, along with ambitious plans for coal and gas power. Controversial nuclear energy plans are also moving forward in an agenda which will raise hackles as well as presenting...
www.africa-energy.com
Concerns over the ability to finance new coal plants are even more pronounced. Many institutions have ruled out funding coal projects, including most of the major South African commercial banks and export credit agencies in Organisation for Economic Co-operation and Development countries. The failure of two previous coal power projects has not inspired confidence, after they were selected through the IPP programme but were then confronted by damaging legal battles with environmental campaigners,.
Unless the government is going to fund them itself, not going to happen. Most international lenders including state owned ones will no longer fund coal.
Mantashe is still pushing polluting large scale coal projects which financiers are now unwilling to lend for (thankfully!), instead of embracing what foreign countries are willing to lend for - cheaper renewables.
Mantashe needs to go. He's a dinosaur.
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