Prieska Power Reserve receives formal approval of grant funding from KfW

Northern Cape-based green hydrogen and ammonia project Prieska Power Reserve (PPR) has received formal approval of a funding grant from KfW Development Bank, in partnership with the Industrial Development Corporation (IDC). “We are making excellent progress across the project’s technical and financial workstreams. With KfW’s support and our ongoing partnership with the IDC, we are well positioned to reach financial close and move into project execution,” says PPR director Martin Walzer.
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Ramaphosa aims to use G20 platform to clear hurdles to African green hydrogen, just energy …

President Cyril Ramaphosa has again underlined the industrialisation potential of green hydrogen, and has stressed that South Africa will used its G20 Presidency as well as its participation in the upcoming G7 meeting in Canada to call for a prioritisation of just energy transitions as engines of economic growth and social development. In an address to the Africa Green Hydrogen Summit in Cape Town, Ramaphosa described green hydrogen is an anchor for industrial transformation and infrastructure investment, as well as a bridge to a new export industry for African countries.
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World Bank to end ban on nuclear energy projects, still debating upstream gas

The World Bank’s board has agreed to end a longstanding ban on funding nuclear energy projects in developing countries as part of a broader push to meet rising electricity needs, the bank’s president Ajay Banga said on Wednesday. Banga outlined the bank’s revised energy strategy in an email to staff after what he called a constructive discussion with the board on Tuesday. He said the board was not yet in agreement on whether the bank should engage in funding the production of natural gas, and if so, under what circumstances.
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South Africa’s $5.8bn Hive project aims to lead low-cost ammonia output

A $5.8-billion project on South Africa’s east coast seeks to use the country’s infrastructure and cheap renewable power to make some of the world’s cheapest green ammonia for clients in Europe and Asia, an executive said. South Africa is vying with other African nations, including Egypt, Morocco and Namibia, to meet rising demand in the EU and Asia for hydrogen and ammonia described as green because they are produced from renewable energy.
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