NEDBANKS ROLE IN FINANCING PROPOSED NEW COAL-FIRED POWER PLANTS

The Centre for Environmental Rights (CER), writing on behalf of the Life After Coal Campaign, calls on Nedbank to cease financing the Thabametsi and Khanyisa coal-fired power stations. The CER argues that these projects, part of the Coal Baseload Independent Power Producer Procurement Programme (CBIPPPP), are not 'procured' as claimed in the draft Integrated Resource Plan (IRP) 2018 because they lack essential legal authorisations, including atmospheric emission and water use licences. The document asserts that these plants are unnecessary for electricity supply, excessively expensive, and would cost South Africa nearly R20 billion more than required. Furthermore, it highlights severe health risks for residents in the Waterberg-Bojanala and Highveld Priority Areas and warns that the plants' high greenhouse gas emission intensities would undermine South Africa's Paris Agreement commitments. The CER criticizes Nedbank for excluding these 'existing commitments' from its 2018 policy against financing new coal-fired power plants.

• The Thabametsi and Khanyisa power stations are not 'procured' as stated in the draft IRP 2018 because they lack necessary legal authorisations. Thabametsi lacks an atmospheric emission licence, a water use licence, and a NERSA generation licence. Khanyisa lacks a generation licence, and its water use licence is currently suspended due to an appeal.
• The draft IRP 2018 acknowledges that the 'least cost' option for electricity contains only solar, wind, and gas, and does not include coal.
• Including new coal in the 2018 draft IRP is estimated to cost South Africa nearly R20 billion more than necessary and will increase electricity costs for consumers.
• The proposed plants are located in polluted air quality priority areas—Waterberg-Bojanala for Thabametsi and Highveld for Khanyisa—where current air quality already causes severe health issues such as heart attacks, strokes, and respiratory infections.
• Thabametsi and Khanyisa would have greenhouse gas emission intensities nearly 60% higher than Eskom’s Medupi and Kusile stations, potentially rendering government emission reduction measures redundant and hindering Paris Agreement commitments.
• Nedbank has a policy to stop providing project financing for new coal-fired power plants from 2018, but it has excluded its existing commitments to the first round of the coal baseload procurement programme, specifically Thabametsi and Khanyisa.

APA

Centre for Environmental Rights (2018). NEDBANKS ROLE IN FINANCING PROPOSED NEW COAL-FIRED POWER PLANTS. https://cer.org.za/wp-content/uploads/2018/09/CER-letter-to-Nedbank_Coal-IPPs-and-the-draft-IRP_12-September-2018.pdf?x21779

Chicago

Centre for Environmental Rights. NEDBANKS ROLE IN FINANCING PROPOSED NEW COAL-FIRED POWER PLANTS. 2018. https://cer.org.za/wp-content/uploads/2018/09/CER-letter-to-Nedbank_Coal-IPPs-and-the-draft-IRP_12-September-2018.pdf?x21779.

Wikipedia

{{cite press release |author=Centre for Environmental Rights |title=NEDBANKS ROLE IN FINANCING PROPOSED NEW COAL-FIRED POWER PLANTS |date=12 September 2018 |url=https://cer.org.za/wp-content/uploads/2018/09/CER-letter-to-Nedbank_Coal-IPPs-and-the-draft-IRP_12-September-2018.pdf?x21779 |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{centreforenvironmentalrights2018nedbanks, author = {{Centre for Environmental Rights}}, title = {{NEDBANKS ROLE IN FINANCING PROPOSED NEW COAL-FIRED POWER PLANTS}}, publisher = {Centre for Environmental Rights}, year = {2018}, month = sep, url = {https://cer.org.za/wp-content/uploads/2018/09/CER-letter-to-Nedbank_Coal-IPPs-and-the-draft-IRP_12-September-2018.pdf?x21779}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }