South Africa in talks with investors on green hydrogen projects

South Africa in talks with investors on green hydrogen projects

Bloomberg: South Africa’s government is in talks with potential investors for green hydrogen projects, with Germany having identified the country as a key source of the fuel, Trade, Industry and Competition Minister Ebrahim Patel said.

President Cyril Ramaphosa announced that the government has plans that support the development of a pipeline of green-hydrogen projects worth about 270 billion rand ($17.8 billion) over the next decade.

South Africa is joining as many as 26 other countries, which have come up with plans to harness green hydrogen — made from water and electricity generated from renewable sources– in a bid to meet emissions reduction goals and help consumers and key industries such as steel transition to lower-carbon fuels. The number of countries with a hydrogen strategy doubled last year to 26, and expected plans from the US, Brazil, India and China could reshape the global market, according to BloombergNEF.