Displaying items by tag: IDC South Africa

South Africa: Saudi Arabia-based ACWA Power and Industrial Development Corporation of South Africa (IDC South Africa) have partnered to explore the development of green hydrogen infrastructure opportunities in South Africa. Together, they will aim to accelerate the country's transition into a green hydrogen economy across industries including cement production. ACWA Power projected the potential value of developments at US$10bn.

South Africa is committed to achieving net zero CO₂ emissions by 2050.

ACWA Power's vice chair and chief executive officer Paddy Padmanathan said "As a company that is driving the energy transition, ACWA Power is proud to work closely with the IDC, with whom we share a robust working history, and today we are delighted to take our collaboration further. I am confident that our expertise in developing mega-scale green hydrogen projects in other geographies will enable us to successfully create a new avenue of sustainable energy generation - one that will pave the path to further progress.”