SA-H2 fund commits $20m to South Africa’s first large-scale green ammonia project
South Africa’s PIC, IDC, and DBSA have committed ZAR 656 million ($37m) to the SA-H2 Fund, which will invest up to $20m in developing the country’s first large-scale green ammonia plant, led by Hive Hydrogen.
Under a Development Funding Agreement, SA-H2, managed by Climate Fund Managers and Invest International, aims to accelerate South Africa’s green hydrogen economy and support the financial close of the Hive Coega Green Ammonia project by 2026.
The funding will support engineering, permitting, environmental and social impact assessments, offtake negotiations, and other key activities required to reach financial close, with commercial operations expected to begin in 2029.
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