During a meeting of the Standing Committee on Finance, Economic Opportunities and Tourism on Friday, the Provincial Department of Economic Development and Tourism revealed that the World Bank will be allocating funding for a pioneering green hydrogen bunkering project within the Saldanha Bay Industrial Development Zone (SBIDZ).

This project, which will navigate various feasibility stages, is marked by sustainable development – promoting economic growth and job creation while ultimately positioning the Western Cape as the leading green tech hub of Africa.

The project revolves around bunkering, which is a process involving the transfer of liquid, in particular fuels, onto ships through specialised port infrastructure. Green hydrogen, an emerging energy avenue, holds vast growth potential as the world embraces an unwavering journey toward sustainable energy systems.

It is expected that further announcements on the World Bank's financial commitment will be made at the upcoming Presidential Green Hydrogen Summit in October.

Additionally, the European Union (EU), a pivotal market for green hydrogen sourced from Saldanha Bay, is playing a central role by funding feasibility studies within the SBIDZ. This collaborative engagement underscores a steadfast commitment to bolstering investments and expanding trade avenues in the Western Cape.

The pursuit of a sustainable energy transition is underpinned by:

• Purposeful Investment: The Western Cape Department of Economic Development and Tourism, in alignment with the World Bank's vision, leads the establishment of an environmentally conscious energy infrastructure.
• Collaborative Progress: The partnership among the World Bank, EU, and local entities must synchronise international and regional efforts to accelerate sustainable energy initiatives.
• Promise of green energy: Building out green infrastructure is crucial in the green transition as the Western Cape can participate competitively in global value chains, affording it access to global markets.

This strategic initiative not only underscores the DA-led Western Cape Government's commitment to sustainable growth but also highlights the pivotal role dynamic partnerships with global entities like the World Bank and EU play.

 

Issued by Cayla Murray, MPP - DA Western Cape Spokesperson on Finance, Economic Opportunities and Tourism