SA's green hydrogen initiatives gain momentum with R650 million development funding

PIC, IDC, and DBSA have collectively invested R656 million into the SA Hydrogen Fund (SA-H2), also known as CI3 South Africa

- BANELE GININDZA

SOUTH Africa's plans to accelerate the development of green hydrogen have received a major boost with several initiatives announced on Thurdsay, highlighting the country's commitment to renewable energy.

The Public Investment Corporation (PIC), the Industrial Development Corporation of South Africa (IDC), and the Development Bank of Southern Africa (DBSA) have collectively invested R656 million into the South African Hydrogen Fund (SA-H2), also known as C13 South Africa. This fund is pivotal in advancing the country's just energy transition (JET) and reinforcing its status as a global leader in green hydrogen.

As part of this intensification of green energy initiatives, the IDC has joined forces with Germany's KfW Development Bank to provide grant funding for Mahlako, a 100% women-owned firm focused on developmental infrastructure projects, and CENEC (Central Energy Corporation), based in Bloemfontein.

This partnership aims to expedite the development of the Prieska Power Reserve (PPR), a project that has successfully navigated a rigorous due diligence process this year.

To date, the IDC has received a significant number of funding applications for green hydrogen projects and the PPR was among the first to have undergone a rigorous due diligence process.