Investment in large-scale green ammonia plant

The SA-H2 Fund – a partnership between climate finance investor Climate Fund Managers and Dutch development financing institution Invest International – has committed up to $20 million in development funding to complete the final stage of development of the Hive Hydrogen Coega Green Ammonia Project – South Africa’s first large-scale green ammonia production facility.

SA-H2 is dedicated to accelerating South Africa’s energy transition and green hydrogen economy. The development funding will cover engineering, procurement and construction selection, front-end engineering and design, and will also be put toward completion of the advanced stage permitting and environmental and social impact assessments, leading to offtake finalisation and financial close preparation. The agreement also secures the SA-H2 Fund’s right to participate in construction funding for up to $200 million. Financial close is targeted for H2 2026, with commercial operations expected to begin in 2029.