South Africa could bet set for an influx of hydrogen projects and development with a new agreement aiming to deploy innovative clean technology in the country to support low-cost, carbon-free hydrogen.
The agreement, signed between 8 Rivers Capital and Monetizing Gas Africa, will see the two companies collaborate on clean technologies that mitigate the over-dependence on coal-fired power to meet is expected COP26 emissions reductions.
By promoting the use of hydrogen, at a competitive rate, it could accelerate its adoption whilst also promoting renewable and sustainable operations for power generation in South Africa.
Both companies see hydrogen as a means to attaining emission reduction goals and recognise the huge potential that it has in decarbonising the region.
Bringing decarbonised projects to Africa will also serve as a critical vector for social and economic development for the region, helping Africa to ‘leap-frog’ into a low-emissions future.
Cam Hosie, Chief Executive of 8 Rivers Capita, said, “8 Rivers has been driving the energy transition for over a decade, developing best-in-class net zero solutions across sectors.
“We look forward to working closely with Monetizing Gas Africa to help South Africa and the broader region to utilise advanced technologies to cost effectively move to a low-carbon economy and a sustainable future.”
Rodney MacAlister, CEO of Monetizing Gas Africa, said, “MGA is a South Africa born and bred energy project development company eager to assist the country with its Just Energy Transition in the cleanest of ways.
“8 Rivers’ carbon-neutral technologies and development experience will enable South Africa to balance its generation supply dependability while ensuring zero carbon escapes into the atmosphere.
“We very much welcome this collaboration and look forward to jointly progressing major project developments.”