EU Grants Boost South Africa's Green Hydrogen Economy
Key Ideas
- EU and South Africa partnership receives two major grants totalling R628 million to advance the country's green hydrogen strategy.
- The grants aim to unlock investments along the green hydrogen value chain, create jobs, reduce carbon emissions, and support Transnet's net-zero emissions goal by 2040.
- Commissioner Simson highlights the importance of the partnership in accelerating sustainable development, creating economic opportunities, and supporting South Africa's green hydrogen agenda.
- The projects align with South Africa's Hydrogen Society Roadmap, contribute to transitioning to a low-carbon economy, and position the country as a significant player in the global green hydrogen market.
The European Union (EU) and South Africa have partnered to boost South Africa's green hydrogen economy with two major grants totaling R628 million (€32 million). The grants, announced by European Commissioner for Energy Kadri Simson and South African Ministers Kgosientsho Ramokgopa and Parks Tau, aim to support South Africa's ambitious plans in developing a green hydrogen economy. The first grant of R490 million is set to unlock R10 billion in investments along the green hydrogen value chain, promoting renewable energy infrastructure development, job creation, and local economic growth while reducing carbon emissions. The second grant of R138 million will aid state-owned enterprise Transnet in its green transformation efforts, focusing on achieving net-zero emissions by 2040 and developing a green hydrogen ecosystem. Commissioner Simson emphasized the importance of this partnership in driving sustainable development, creating new economic opportunities, and aligning with South Africa's green hydrogen agenda. These grants are part of the EU's commitment to promoting green energy in South Africa and will help establish a regional green hydrogen hub in Southern Africa, positioning the country as a significant player in the global green hydrogen market. The projects also support South Africa's goals of transitioning to a low-carbon economy and contribute to environmental stewardship.
Topics
Africa
Renewable Energy
Job Creation
Global Market
Sustainable Development
Infrastructure Development
Economic Growth
Environmental Stewardship
EU Grants
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