SA sets sights on $250bn investment in hydrogen sector

SA has unveiled a plan at COP27 to target the green hydrogen industry. Picture: Bloomberg

The industry could create 1.4-million jobs and generate as much as $30bn in annual revenue by that year, according to Masopha Moshoeshoe, a green economy specialist in the presidency’s investment and infrastructure office. The plan, included in a presentation by Moshoeshoe at the COP27 international climate conference in Egypt on Monday, would involve SA exporting as much as 8-million tonnes of the clean-burning fuel and its derivatives by 2050 and satisfying local demand of 2-million to 5-million tonnes, he said.

The war has driven up natural gas prices and threatened security of supply. Investment funds, governments and utilities are pledging to spend billions of dollars for the clean fuel.

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