Hive Hydrogen South Africa is actively looking for investors from Japan to join the $5.9 billion green ammonia project. Various companies are already interested and will be visiting the project’s site.
The potential investors attending include Mitsubishi UFJ Financial Group Inc., Itochu Corp., Mitsubishi Heavy Industries Ltd. and Mitsui OSK Lines Ltd. Other dignitaries to attend the Eastern Cape Province plant are International Finance Corp officials, and Japanese government agencies
According to Colin Loubser, Hive Hydrogen’s general manager in Gqebera, “This is the most senior delegation Japan has ever sent to South Africa, in terms of business investment.”
A successful collaboration between the parties will be a big step in solving power problems in the country. The Hive and Hydrogen project will be one of the biggest clean energy projects ever. It offers a solution in the journey to eliminate fossil fuels like coal, which is a great contributor to climate change.
The clean fuel product already has interested buyers. ArcelorMittal SA is planning to use it in its steel production, a project with an estimated worth of $3.7 billion. Moreover, Sasol Ltd. may develop a plant on the northwest coast if a new port is built.
In addition to Japanese buyers, neighboring Asian nations, South Korea is a potential customer of the Hydrogen fuel. The export will help South Africa generate extra revenue, and help the government facilitate a sustainable economy.
Therefore, it is a win-win situation if the Japanese investors join the multi-million clean fuel project. This especially in the renewable energy sector, which will generate 3,700 megawatts from the project.
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