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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Joint Effort For Green Hydrogen: India-Australia Taskforce

    SA To Benefit From Dutch And Danish Green Energy Fund of $1B

    EU Targets 30 GW Annual Solar Manufacturing Capacity By 2025

    India achieved a solar share of 10.69 percent of installed power capacity

    European Solar Industry Making Strides To Reach 30 GW Target

    Saitec begins the processing of the first offshore wind farm in the Basque Country

    UK Unveiled Its Plans For Offshore Wind Expansion By 2030

    To Speed – Up Energy Shift Funding OPEC Fund, IRENA Join Hands

    To Speed – Up Energy Shift Funding OPEC Fund, IRENA Join Hands

    Sterling and Wilson Solar Solutions bags USD 99 million solar project in US

    Romania Helps Large – Scale Solar Projects Get Legal Clearance

    India and the EU Will Drive an Expansion of Global Renewable Capacity Next Year

    Saudi Arabia-Kazakhstan Tie-Up To Enhance Energy Alliances

    Renewable Hydrogen Targets of Oman: A Million Tons By 2030

    To Balance Supplies By H2 Energy, $107 Bn Assigned By Japan

    To Balance Supplies By H2 Energy, $107 Bn Assigned By Japan

  • Market Moves
    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

  • Press Statements

    CWIEME Berlin attracted thousands of visitors to Messe Berlin

    CWIEME Berlin off to a stellar start

    Introducing the CWIEME Advisory Board for 2023

    Toyota granted Zero Emission CARB Executive Order for heavy-duty fuel cell electric powertrain kit

    Toyota granted Zero Emission CARB Executive Order for heavy-duty fuel cell electric powertrain kit

    SFC Energy AG Strengthens North American Business and Opens Competence Center for Hydrogen Fuel Cells in Canada

    SFC Energy AG Strengthens North American Business and Opens Competence Center for Hydrogen Fuel Cells in Canada

    TECO 2030 Starts Manual Production of Fuel Cell Stacks

    TECO 2030 Starts Manual Production of Fuel Cell Stacks

    Sustainable energy: industry get-together at hy-fcell

    India achieved a solar share of 10.69 percent of installed power capacity

    Altea Green Power inks deal with Aer Soleir to build 300MW projects in Italy

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SA To Benefit From Dutch And Danish Green Energy Fund of $1B

in News, Renewable Power
Joint Effort For Green Hydrogen: India-Australia Taskforce

Netherlands’ state-backed firms have committed to establishing a green hydrogen fund worth $1 billion for investment in South African projects. This initiative was announced during an event in Pretoria, attended by the leaders of the Netherlands, Denmark, and South Africa, where they also discussed investments in renewable energy. Although the specific allocation of funds was not disclosed, Denmark’s involvement was indicated. The SA-H2 fund, a first for South Africa, will involve the participation of state finance institutions, namely the Development Bank of Southern Africa (DBSA) and the Industrial Development Corp., as well as Climate Fund Managers BV, Invest International BV, Sanlam Ltd., and other strategic investors.

South Africa’s ample wind and solar resources, along with its industrial capacity, position it as a potential major producer of green fuel, which is expected to replace natural gas in the future. While the Netherlands could act as an import hub, South Africa has the unique advantage to play a significant role in the global hydrogen market. The funding for this initiative will be raised in South Africa or through alternative channels. The SDG Namibia One fund, which also aims to secure $1 billion, operates in a similar manner, according to DBSA.

Regarding climate finance, South Africa is making preparations to implement an $8.5 billion agreement with some of the wealthiest nations in the world. This pact aims to support South Africa’s transition away from coal usage. Denmark and the Netherlands are currently engaged in discussions to join the Just Energy Transition Partnership, which includes South Africa, the UK, US, France, Germany, and the European Union. Three individuals familiar with the matter disclosed this information earlier this month.

The hydrogen fund is the first of its kind and is expected to inspire similar initiatives in the future. Its purpose is to act as a finance facility that combines different funding sources in order to encourage greater private-sector investment in the industry. Alongside this, the three countries involved announced a range of partnerships. Invest International committed to establishing a 300 million euro ($327 million) water infrastructure fund for South Africa, while a Dutch venture will transform the soon-to-be idled Grootvlei power plant into a climate-smart agriculture hub in South Africa. Denmark plans to contribute approximately 3.2 billion rand ($174 million) towards green energy projects in South Africa. The event was attended by 130 business leaders from the three nations, including representatives from Vestas Wind Systems A/S and the Port of Rotterdam.

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