SA Harvest marks fourth anniversary on World Food Day, celebrating the…President Cyril Ramaphosa has highlighted the vital role the green hydrogen economy plays in the country’s development and just energy transition.
The inaugural SAGHS, held in 2022, reaffirmed South Africa as an investment destination of choice and a world leader in the green energy space. It focused on scaling up regional cooperation around green hydrogen. The President noted that 64 countries, accounting for 89% of global emissions, have announced net zero targets by 2050. He further said that is anticipated that global green hydrogen demand will increase sevenfold by 2050.
“The inaugural summit laid a strong policy foundation. This year’s summit has a dedicated project focus, providing an opportunity to demonstrate the degree to which projects have matured and advanced. This is also an opportunity to demonstrate technological developments and advancements in the green hydrogen space.
“South Africa has deep capital markets, with world-class conditions for generating renewable energy through solar and wind power, which are key drivers of the production of green hydrogen.In June 2023, South Africa concluded a Heads of Agreement with the intention to launch the SA-H2 Fund. This is an innovative blended finance fund that will facilitate the development of a green hydrogen sector and circular economy in South Africa.