SA partners Dutch in $1bn fund to kickstart the hydrogen economy: The fund comes as climate change has been flagged as one of the biggest global environmental risks and South Africa aims to reduce its reliance on fossil fuels as part of its…
The Prime Minister of the Netherlands, Mark Rutte, President Cyril Ramaphosa and the Prime Minister of Denmark, Mette Frederiksen, arrive for the opening remarks for their official talks about green hydrogen, renewable energy and just energy transition at the Sefako Makgatho presidential guesthouse in Pretoria.South Africa has unveiled its first green hydrogen fund to raise $1bn to kickstart the country’s hydrogen economy in partnership with the Netherlands .
“Such investments are important as our country has severe electricity challenges,” said Ramaphosa. He said the development of new renewable generation capacity was key in developing a hydrogen economy and creating jobs. Speaking on the sidelines of the launch, DBSA CEO Boitumelo Mosako said the fund’s partners aimed to raise $1bn for the green hydrogen projects.
She said the fund was critical to enable the preparation and implementation of green hydrogen projects, including Boegebaai in the Northern Cape which has the potential to produce 400 kilotons of green hydrogen a yearAndrew Johnstone, CEO of Climate Fund Managers, said green hydrogen is both the pathway and the solution to the global energy transition.
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