The European Union (EU) will avail about R628 million to South Africa.
This amount is to promote the sustainable development of the green hydrogen value chains in South Africa.
Commissioner of the EU, Kadri Simson, said the financial support to South Africa, is in line with the country’s priorities of adding value to the domestic economy and ramping up its green industrialisation.
This is expected to create new economic opportunities and boost domestic growth.
The announcement was made at a media briefing on Monday afternoon, part of the EU’s programme in South Africa, where Simson met with Minister for Energy and Electricity Kgosientsho Ramogkopa and Minister for Trade, Industry and Competition Parks Tau.
The focus of the EU’s program is on collaboration with South Africa regarding the just energy transition and the sustainable development of strategic value chains, including Green Hydrogen.
During her visit, Kadri Simson also met with a number of additional key stakeholders, including business associations that advise NECOM (the National Energy Crisis Committee responsible for the implementation of South Africa’s Presidential Energy Action Plan), the Presidential Climate Commission and representatives of civil society, labour, business and government.
The EU International Partnerships, European Investment Bank (EIB) and AFD – Agence Française de Développement teams are also in in Lesotho this week to explore opportunities to support the country’s renewable energy infrastructure development.
Teams have met with Professor Nqosa Mahao, the Minister of Energy, in Lesotho.
They also visited with the Principal Secretary of Ministry of Finance, Nthoateng Lebona, as well as Mohlomi Moleko, the Minister of Natural Resources.
Picture of the EU with SA Ministers.