The investments are R140 million ($7 791 million) for Transnet to help with issues of trade and R500 million ($28 008 million) that will go to the green hydrogen agenda.

EU Energy Commissioner, Kadri Simson is in the country and has signed the agreement in Pretoria.

Energy and Electricity Minister Kgosientsho Ramokgopa has described the investment as an opportunity to create jobs and reindustrialise the South African economy.

“We welcome the investment because it opens a new frontier. Green hydrogen is going to enable us to transition the South African economy in a manner that gives a greater contribution to the GDP and we are able to scale people into participating in an economy that is transitioning and getting cleaner. Green hydrogen endowments, we are sitting with that at Sasol. So, we are not new in this space, it’s more of configuring the fuel sources that is going to support green hydrogen.”

--SABC--