South Africa’s green hydrogen ambitions took a decisive leap forward as the Hive Hydrogen Coega project secured up to USD 20 million in early-stage investment from the SA-H2 Fund. This marks the fund’s first-ever investment and sets the stage for one of Africa’s largest green ammonia ventures.
Located in the Coega Special Economic Zone, the project is being spearheaded by Hive Hydrogen South Africa — a joint venture between UK-based Hive Energy and South Africa’s BuiltAfrica. With plans to harness 3.6 GW of renewable energy (2.4 GW wind, 1.2 GW solar), the plant will include a 1.2-GW electrolyser, desalination, air separation, bulk storage, and export facilities.
Once operational, Hive aims to produce 1 million tonnes of green ammonia annually, targeting exports to Asia and the EU. A memorandum of cooperation with Japan’s ITOCHU Corporation points to future investment and offtake deals.
The SA-H2 Fund’s commitment will support key development activities like FEED studies, permitting, EPC contractor selection, and impact assessments. Notably, the fund holds an option to invest up to USD 200 million during construction.
In parallel, South Africa’s PIC, IDC, and DBSA have pledged ZAR 656 million (USD 36.8 million) to strengthen the SA-H2 platform. The project aims to reach financial close by late 2026, with commercial operations expected by 2029.
Meanwhile, Hive Energy has completed the development of a 1,430-MW solar cluster, set to supply 40% of the facility’s energy needs. The solar effort was co-developed with Akuo Energy, Africoast Investments, and Golden Sunshine Trading.