South Africa’s green hydrogen dream is ZAR655 million closer to becoming a reality.
Three local entities – the Public Investment Corporation (PIC), the Industrial Development Corporation (IDC) and the Development Bank of South Africa (DBSA) – have pledged a total of US$37 million to the SA-H2Fund, which is jointly managed by Hague-based Climate Fund Managers and The Netherlands’ Invest International.
Moneyweb reports that the PIC is stumping up the lion’s share of the financing at US$17 million with the IDC and DBSA contributing US$10 million each – all to be disbursed in tranches.
The SA-H2 fund has already committed US$20 million to develop Hive Hydrogen’s large-scale green ammonia production facility in in the Coega special economic zone near Gqeberha in the Eastern Cape province. The facility is expected to start commercial production in 2029.
