4.6 C
New York
Saturday, May 18, 2024

South Africa Joins Forces With Netherlands, Denmark To Set Up $1billion green hydrogen fund


Share post:

South Africa, the Netherlands, and Denmark have joined forces in a groundbreaking initiative to combat climate change.

President Cyril Ramaphosa of South Africa, accompanied by Dutch Prime Minister Mark Rutte and Danish Prime Minister Mette Frederiksen, launched a $1 billion green hydrogen fund.

This fund aims to kick-start the development of a green hydrogen industry in South Africa, as part of the country’s energy transition plan.

The plan focuses on leveraging South Africa’s abundant renewable resources to establish an export hub for green hydrogen, which can be produced using renewable energy without generating greenhouse gas emissions.

South Africa Joins Forces With Netherlands, Denmark To Set Up $1billion green hydrogen fund

Prime Minister Rutte praised South Africa’s potential to become a key player in the global hydrogen market due to its vast renewable resources. He emphasized the Netherlands’ readiness to serve as a strategic partner, both in local development and as a hub for hydrogen imports.

Also, read; Gambia Implements Stricter Regulations On Indian Drugs After Cough Syrup Deaths

Prime Minister Frederiksen of Denmark echoed Rutte’s sentiments and expressed pride in Denmark’s partnership with South Africa’s just energy transition.

Denmark pledged approximately R3.2 billion to enhance the supply of green power and promote local development and employment. Frederiksen stressed the importance of simultaneously addressing growth, climate change, and development.

President Ramaphosa welcomed the investments made by the Netherlands and Denmark, recognizing the mutual benefits for all three countries. He highlighted the visit as an opportunity to foster collaboration and explore various available opportunities.

South Africa Joins Forces With Netherlands, Denmark To Set Up $1billion green hydrogen fund

Additionally, Ramaphosa touched on his recent travels to Russia and Ukraine, emphasizing the importance of ending the war and advocating for peaceful negotiations.

South Africa’s ambitious plans include producing hydrogen for various sectors such as aviation, green steel, and transportation, as well as exporting hydrogen to the European Union.

The collaboration between these nations marks a significant step forward in the global effort to combat climate change and promote sustainable development.


Please enter your comment!
Please enter your name here

- Advertisement -

Related articles

Chad Confirms Mahamat Idriss Déby as President with 61% of Vote

The Constitutional Council of Chad confirmed Mahamat Idriss Déby as the nation's president on Thursday, May 16, after...

UK Denies 74-Year-Old Ghanaian Permanent Residency After 42 Years of Residency

A 74-year-old Ghanaian man, Nelson Shardey, has launched a legal battle against the United Kingdom's Home Office after...

1-Year-Old Ghanaian, Ace Liam Becomes Guinness World Records’ Youngest Male Artist

Ace Liam, a one-year-old Ghanaian prodigy, has officially become the Guinness World Record holder for the Youngest Male...

Ousted Gabon President Ali Bongo Begins Hunger Strike

Gabon's deposed President Ali Bongo and his two sons have initiated a hunger strike, alleging they are being...