Through finance and the provision of early-stage capital for the development of the hydrogen value chain, the Public Investment Corporation (PIC) has established a hydrogen investment strategy with the goal of maximizing value.
An additional goal of the plan, according to Sekgoela Sekgoela, Senior Investor Relations Specialist at the PIC, is to capitalize on the more than 200 hydrogen projects that have been launched globally and the more than $250 billion needed for the growth of a hydrogen economy in South Africa.
Furthermore, he added, South Africa has a lot of promise for renewable energy because of its high levels of solar radiation and extensive coastline for wind deployment.
The strategy’s implementation coincides with an increase in interest in using hydrogen as a viable clean energy source among a number of nations worldwide.
The PIC has been identified by the Hydrogen Roadmap as a possible co-investor in hydrogen projects alongside other financial institutions. One of the government’s strategies and policy directions is the roadmap, which aims to unite a range of public and private stakeholders and institutions around a shared understanding of how to use and deploy hydrogen and technologies related to it as part of the nation’s economic development and environmental goals.