APA-Cape Town (South Africa) South Africa, as “an investment destination of choice,” has potential to produce green hydrogen due to its legislative infrastructure whose goal is to make the county a world leader in green hydrogen production, President Cyril Ramaphosa has said.
The president said this when he delivered a keynote address at the opening of the inaugural South Africa Green Hydrogen Summit held in Cape Town on Tuesday.
“South Africa is an investment destination of choice. The country has proven itself as a gateway to a dynamic continent with great prospects,” Ramaphosa said.
He added: “South Africa leads the continent in advanced manufacturing, science and technology. This country is a favourable, reliable and stable place to conduct business.”
He said that his government was driving regulatory and legislative reforms to make the economy more competitive, to attract more investment, and to create more jobs.
“South Africa has many inherent advantages that make it internationally competitive in the production of green hydrogen. These include a world class endowment of both onshore wind and solar irradiation,” the president said.
The country had a supportive legislative environment and experience in the deployment of renewable energy with the largest installed capacity of wind and solar power projects on the African continent, he added.
South Africa already produces 2.4 million tons of grey hydrogen for domestic consumption, he said, adding that a number of large and emerging local companies have started doing work in the green hydrogen sector.
South Africa has an estimated potential to produce six to 13 million tons of green hydrogen and derivatives a year by 2050. This would require between 140 and 300 gigawatts of renewable energy, he said.
The president explained that the focus would now be on green hydrogen exports, electrolyser and fuel cell production, and the manufacture of green steel, sustainable aviation fuel, ammonia, fertilisers and renewable energy components.