South Africa’s Cabinet has given the green light for a Green Hydrogen Commercialisation Strategy (GHCS), with the aim to position the country as a major producer and exporter of green hydrogen.
Building on stakeholder feedback on a draft Green Paper, several potential funding sources for green hydrogen projects have now been identified by the government, according to Minister in the Presidency Khumbudzo Ntshavheni.
The GHCS aligns with the country’s established Hydrogen South Africa Strategy, which was approved in 2007 and falls within the framework of the Hydrogen Society Roadmap, developed by the Department of Science and Innovation and approved by the Cabinet in 2021.
Furthermore, Heads of Agreements at the recent second South Africa Green Hydrogen Summit concluded to establish an SA-H2 Fund, with the aim to promote growth in the country’s green hydrogen sector and attract $1 billion in funding.
The Executive Authority, who welcomed the summit, estimated that the hydrogen economy could contribute 3.6% to South Africa’s GDP by 2050 and create around 370,000 jobs.
The Minister said: “Green hydrogen has the potential to add additional renewable energy generation capacity and to support the local development of renewable energy.”