EU gives South Africa $35 MM in grants for green hydrogen plans
The European Union has pledged to give South Africa two grants worth ~$35 MM to accelerate its green hydrogen (H2) plans.
Green H2 projects use renewable energy to split water into H2 and oxygen, making fuel that can be used across industries such as transport, petrochemicals and steel.
The first EU grant, worth 140 MM rand ($7.8 MM), is to help struggling South African state company Transnet with infrastructure costs, supporting railways, ports, pipelines and other logistics.
The other grant, for €25 MM ($27.6 MM), will help Africa's most industrialized economy develop its green H2 value chain.
Green H2 is seen as critical to decarbonization efforts in South Africa and Europe.
European countries have been investing in green H2 projects across Africa to secure future supplies of the fuel.
"These two European Union grants will be implemented in a way so that they contribute to South Africa's strategic objectives," Kadri Simson, European commissioner for energy, told reporters in Pretoria, South Africa's administrative capital.
"We think that green hydrogen provides some of the best opportunities for the country to really industrialize," said Kgosientsho Ramokgopa, South Africa's minister of energy and electricity.
($1 = 17.8837 rand)
($1 = €0.9060)
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