12 °c
London
Wednesday, May 18, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Energy

Germany to invest US$45M+ in South Africa’s green hydrogen economy

Energy Capital & Power by Energy Capital & Power
January 24, 2022
in Africa, Energy, South Africa
Reading Time: 2 mins read
837 35
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

In pursuit of the development of a green hydrogen economy in South Africa, the German Federal Ministry of Economic Cooperation and Development (BMZ) has commissioned its development agency, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GiZ), to spearhead the H2Global development initiative – in collaboration, and with approval from, the Government of South Africa.

The BMZ will provide $14.2 million in grant funding, as part of a larger $45 million commitment from the German Government to support the initiative.

Plans for the development of South Africa’s green hydrogen economy were announced by the Minister in the Presidency, H.E. Mondli Gungubele, during a site visit to Port Nolloth, near Boegoebaai, in the Northern Cape Province of South Africa on the 17th of January. In the portside town, a new green hydrogen project will be rolled-out by South Africa’s integrated energy and chemical company, SASOL, to produce sustainable aviation fuel.

The Minister was clear that, “The German Government, through its H2Global Initiative, has created a sustainable aviation fuel market trading platform, which is intended to provide funding to green hydrogen products globally.” Minister Gungubele further remarked that, “South Africa has the potential to become a global sustainable aviation fuel hub due to our renewable endowment. SASOL is working with a number of local and international partners on a pioneering sustainable aviation fuel project at the SASOL Secunda Facility.”

Also read: South Africa opens NantSA vaccine production campus

The Minister also flagged that the Investment and Infrastructure Office has pledged its commitment to support the project, which has the potential to “contribute to a just [energy] transition”, whilst facilitating the creation of “quality green jobs”.

The production of green hydrogen, which utilizes low-carbon technologies and renewable energy, is set to play a significant role in the global energy transition and the low-carbon transition of industrial sectors – such as aviation, steel, cement and manufacturing, as well as heavy-duty and maritime transport sectors. It is envisaged that the green hydrogen export market could transform into an industry worth over $300 billion per year by 2050.

“Global green hydrogen demand could reach 530 million tons by 2050, displacing roughly 10.4 billion barrels of oil equivalent – around 37% of pre-pandemic global oil production,” Gungubele added during his address.

In addition to the $14.2 million in grant funding towards South Africa’s green hydrogen development, $2.8 million will be allocated to the South African German Energy program, while $28.4 million will be directed towards a financial cooperation project – the Promotion of Green Hydrogen Programme.

Related

Source: Energy Capital & Power
Tags: AviationBMZBoegoebaaiCape ProvinceCementDeutsche Gesellschaft für Internationale ZusammenarbeitEnergyFeatureGerman Federal Ministry of Economic Cooperation and DevelopmentGerman GovernmentGermanyGermany to invest US$45M+ in South Africa’s green hydrogen economyGIZGovernment of South Africagreen hydrogen economyH2Global developmentmanufacturingmaritime transportMondli GungubelePort Nollothquality green jobsrenewable energySasolSouth Africasteelюжная-африкаجنوب-أفريقيا南アフリカ南非
ScanSendShare349Tweet218Share61Pin78Send
Energy Capital & Power

Energy Capital & Power

Energy Capital & Power is the African continent’s leading investment platform for the energy sector. Through a series of events, online content and investment reports, we unite the entire energy value chain – from oil and gas exploration to renewable power – and facilitate global and intra-African investment and collaboration.

Related Posts

Finance

Nigeria issues crypto asset rules in move seen boosting trade

by FurtherAfrica
May 18, 2022
New Ethiopian coffee directive sets strict minimum price
Trade

Ethiopia coffee export breaks US$1B+ record

by FurtherAfrica
May 18, 2022
Mining

Angola biggest mines by production

by Energy Capital & Power
May 18, 2022
South African stocks hit near 7-month highs
Finance

JSE to market with trading analytics platform

by Africa Global Funds
May 18, 2022
Eswatini Echelon Global appoints Sarko Partners to its advisory board
Business

Eswatini Echelon Global appoints Sarko Partners to its advisory board

by Rafael Carvalho
May 18, 2022
Great Limpopo Transfrontier Park
 
AFSIC 2022
 
MozParks

Translate this page

Read the Latest

Finance

Nigeria issues crypto asset rules in move seen boosting trade

by FurtherAfrica
May 18, 2022
0

Nigeria released new rules for digital assets, offering more clarity on trading in cryptocurrencies in Africa’s most populous nation. The...

Read more
New Ethiopian coffee directive sets strict minimum price

Ethiopia coffee export breaks US$1B+ record

May 18, 2022

Angola biggest mines by production

May 18, 2022
South African stocks hit near 7-month highs

JSE to market with trading analytics platform

May 18, 2022
Eswatini Echelon Global appoints Sarko Partners to its advisory board

Eswatini Echelon Global appoints Sarko Partners to its advisory board

May 18, 2022

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?