South Africa's dedicated green hydrogen fund
A new blended finance fund, the SA-H2 Fund, aiming to raise $1 billion for the development of a green hydrogen sector in South Africa, has been launched in an agreement reached during a visit by Dutch Prime Minister Mark Rutte and Danish Prime Minister Mette Frederiksen to South African President Cyril Ramaphosa. The fund will focus on the development and construction of large-scale green hydrogen infrastructure assets across South Africa.
The fund is supported by Climate Fund Managers, Invest International of the Netherlands, South Africa’s Sanlam, the Development Bank of Southern Africa (DBSA), and the Industrial Development Corporation of South Africa (IDC).
The CEO of Climate Fund Managers, Andrew Johnstone, stressed the importance of green hydrogen in the transition to net-zero by 2050. He highlighted South Africa’s potential to be a global leader in the sector, given its world-class conditions for generating renewable electricity through solar and wind power.