Hydrogen Investment Fund - SA-H2 Fund

The fund, anchored by a €50 million investment from Invest International (Netherlands), supports hydrogen projects from early development through construction and operation. It raises capital from development finance institutions and private investors. Additional funding includes €25 million from the EU’s Global Gateway in Sept 2024 and ZAR 656 million (USD 32 million) from South African institutions (PIC, IDC, DBSA) as of June 2025. Grants were awarded to Mahlako and CENEC for the Prieska Power Reserve, targeting 80 ktpa of ammonia by 2027, scaling to 500 ktpa by 2030. The fund also committed USD 20 million to the Coega Green Ammonia Project for engineering, with an option to invest up to USD 200 million at construction. Final investment decision is expected in H2 2026, with operations starting in 2029.

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