South Africa: Memorandum of Cooperation Sasol, IDC of South Africa to Develop Green Hydrogen Economy
Under a memorandum of cooperation signed between Sasol and the Industrial Development Corporation of South Africa (IDC), both the companies will work together to advance the green hydrogen economy in South Africa.
Johannesburg/South Africa – Sasol and the Industrial Development Corporation of South Africa (IDC) have concluded a memorandum of cooperation (MOC) to jointly develop and shape an enabling environment to advance South Africa’s green hydrogen economy.
Underpinning the MOC is acknowledgement by the parties that South Africa is in a unique position to leverage its world class renewable resources endowment and infrastructure, as well as Sasol’s Fischer-Tropsch technology and skills to position the country as a leader in a global hydrogen economy.
Green hydrogen provides an exciting opportunity for the country to create new hydrogen ecosystems and become a credible exporter of sustainable energy and chemical products, such as hydrogen, ammonia and sustainable aviation fuel, while increasing much-needed employment opportunities
Sasol and the IDC will, among others, collaborate on a non-exclusive basis in advocating at relevant international fora for policy frameworks to enable a hydrogen economy; developing pilot and commercial scale hydrogen projects to pioneer viable and sustainable solutions; accessing local and international financing options; and pursuing strategic projects that benefit the country’s energy transition and economic development goals.
Joanne Bate, Chief Operations Officer from the IDC said: “The development of the hydrogen industry is a key enabler in South Africa’s just transition to a decarbonized future. Hydrogen has the potential to decarbonize various industrial sectors. IDC intends on getting involved in the development of those catalytic projects needed to develop this new industry. We are looking forward to working together with Sasol in identifying and co-developing such catalytic projects. Our involvement in the development of the hydrogen industry also provides opportunities to fulfill our development mandate which entails job creation and opportunities to involve previously disadvantaged entities.”