South Africa green hydrogen fund hits first close

A new South Africa-focused green hydrogen fund has raised its first ZAR 3 billion ($182 million), giving it the firepower to start backing large-scale projects, including green ammonia.

The SA-H2 Fund, managed by Cape Town- and Hague-based Climate Fund Managers, announced first close on 6 August. It is targeting a final size of ZAR 12 billion ($728 million) by mid-2028. The “SA” in the fund name stands for South Africa, and both of the projects the fund has backed so far are located in the country.