President Cyril Ramaphosa said the Green Hydrogen will help the country resolve the current Energy crisis, grow the economy, and create employment.
Ramaphosa was delivering a keynote address virtually at the second South Africa Green Hydrogen Summit (SAGHS) held in Cape Town.
“The hydrogen economy has a prominent role to play in our country’s just energy transition, providing employment and support to vulnerable workers, communities, and small businesses.
It has been estimated that the hydrogen economy has the potential to add 3.6 percent to our GDP by 2050 and approximately 370,000 jobs. We must act with purpose to harness the potential of the green hydrogen economy,” said Ramaphosa.
According to the organizers, the summit aims to highlight South Africa’s exceptional potential as an early stage, large scale, low cost, world-class green hydrogen production hub and total value chain investment destination.
The two-day summit comes at a time when the country is currently experiencing energy challenges, leading to frequent blackouts and breakdown of generation units at some of Eskom power stations.
Ramaphosa highlighted that more than 60 countries, including South Africa, which accounts for 89% of global emissions have announced net zero targets by 2050.
“It is anticipated that global green hydrogen demand will increase sevenfold by 2050.
South Africa has committed to ambitious emission reduction targets. Our own estimates indicate that green hydrogen has the potential to remove 10 to 15 percent of our domestic emissions and contribute to our nation’s long-term energy security,” added Ramaphosa.
Meanwhile, Electricity Minister Dr Kgosientsho Ramokgopa, who also addressed the summit, said the Green Hydrogen has many economic opportunities.
“We see the potential of the international markets, because there’s a significant amount of subsidies that are provided by industrialised and developed countries, many of whom have committed to a net-zero path.
The possibility of achieving those targets is undermined by the limited resources that are available and they have appropriately identified green hydrogen as an energy source that can help accelerate their march towards the realization of the net-zero path,” said Ramokgopa.
AGHA is a voluntary coalition of African countries with significant green hydrogen production potential seeking to promote continental green hydrogen cooperation.
