IDC signs MoU with Saudi company to explore local green hydrogen projects

Saudi developer, investor and operator of power generation, water desalination and green hydrogen plants ACWA Power and South Africa’s State-owned development finance institution the Industrial Development Corporation (IDC) have signed an extensive memorandum of understanding (MoU) exploring a partnership in the development of green hydrogen production and its derivatives in South Africa. This partnership coincides with the State visit of President Cyril Ramaphosa to the Kingdom of Saudi Arabia.

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