South Africa Receives Grant Assistance for Green Hydrogen Initiative
Key Ideas
- South Africa is set to receive around R628 million in grant assistance from the European Union to support its green hydrogen initiative.
- Ministers of Energy and Electricity and Trade, Industry, and Competition emphasized the potential of green hydrogen for reindustrialization and economic growth.
- The European Union's support is seen as a way to help South Africa benefit from its mineral resources and gain access to lucrative markets, particularly in the EU.
- The grants will also aid South Africa in achieving its net zero targets and greening parts of its value chain to decarbonize certain industries and regions.
South Africa is expected to receive grant assistance of approximately R628 million from the European Union to further its green hydrogen initiative. In a media briefing, Minister of Energy and Electricity Kgosientsho Ramokgopa highlighted the importance of green hydrogen for the country, given its mineral endowments and access to lucrative markets like the EU. The partnership aims to support reindustrialization and help meet environmental targets. Additionally, Trade, Industry, and Competition Minister Parks Tau emphasized the opportunity to decarbonize industries and regions while greening the value chain. The initiative includes a green hydrogen commercialization strategy led by the Industrial Development Corporation, with the Ministry of Energy and Electricity overseeing implementation. Overall, the collaboration with the EU signifies a positive step towards economic development and environmental sustainability in South Africa.
Topics
Africa
Decarbonisation
Economic Development
Partnership
Energy Strategy
European Union
Net Zero Targets
Grant Assistance
Reindustrialisation
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