Africa's largest money manager is joining forces with two other institutions to finance green hydrogen projects. Their goal is to produce energy without the harmful effects of carbon pollution.
Public Investment Corp. (PIC), a long-term investor, stated that it was "committed to supporting infrastructure" while helping turn South Africa into a major player in clean energy.
PIC, along with the Industrial Development Corporation and the Development Bank of Southern Africa, has pledged $37 million to launch a new investment vehicle called SA-H2. The fund supports early-stage green hydrogen and green ammonia projects — clean fuels that utilize renewable electricity and water rather than polluting fossil fuels.
This marks a major step forward for South Africa's growing clean-energy economy and for a continent rich in sunlight, wind, and ambition.
The fund's first project is already in motion: a large-scale green ammonia plant by Hive Hydrogen in the Eastern Cape. Once completed, the facility will produce about 1 million tons of clean fuel annually, create over 20,000 jobs, and drive investment in South Africa's renewable sector.
Sebastiaan Surie, head of new ventures at CFM, told Impact investor, "The Hive Coega green ammonia project is an ideal fit: It is ambitious, scalable, and export-orientated, with the potential to catalyze further investment and unlock long-term socio-economic benefits for South Africa."
Beyond job numbers, this is a big win for the planet. Green hydrogen offers a sustainable alternative to oil and gas in industries that are notoriously hard to clean up — like shipping and fertilizer. It's a promising step forward in reducing pollution while supporting local economies.
This kind of momentum is part of a larger shift. We've seen similar climate-smart moves from other big players — like Google teaming up with HSBC to expedite funding to climate-friendly companies or IKEA offering secondhand furniture programs that help reduce waste. Supporting eco-friendly initiatives from big institutions can create a lasting impact, and SA-H2 is a prime example of that.
With international partners like Climate Fund Managers and Invest International helping steer SA-H2, South Africa could soon become a global hub for clean fuel — and a model for what public-private climate action can achieve.
|
Should the U.S. invest more in battery innovations? Click your choice to see results and speak your mind. |
Absolutely 💯 
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
TCD Picks » Upway Spotlight
💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands
Cool Picks
