Germany and South Africa agreed to cooperate on green hydrogen projects in the latest bid by Europe to tap into Africa’s huge renewable resource potential to meet 2050 net zero targets. Under the deal, Germany will assist in developing markets, facilitating imports, and linking producers with technology partners. Last week, the Netherlands and Denmark launched a $1 billion green hydrogen fund in South Africa. A similar fund was launched in Namibia last year. According to Ramaphosa, the country would need up to 17 B$ of investment to kick-start the industry. So far it has received $700 billion dollars under $8.5 billion pledged.
Source : CNBC Africa
