Chancellor Scholz Encourages African Nations to Produce Green Hydrogen and Support Pan-African Free Trade Zone

In his speech at the G20 Compact with Africa Initiative Investment Conference, Chancellor Olaf Scholz encouraged African countries to produce green hydrogen on a large scale. He announced that Germany would buy large quantities of green hydrogen and support countries with the necessary potential to build local hydrogen economies and their value chains through the Power to X Development Fund and other measures. Scholz also praised plans for creating a Pan-African Free Trade Zone, which he said would increase market potential for investors. The German government has taken many decisions to support companies in their engagement on the African market.

The Benefits of Green Hydrogen

Green hydrogen is a renewable energy source that offers many advantages over traditional fuels. It is produced through electrolysis, which splits water into hydrogen and oxygen with the use of electricity from renewable sources such as solar or wind power. This process does not produce any carbon emissions and can be used to generate clean energy. Additionally, green hydrogen has a higher energy density than other forms of renewable energy, making it more efficient and cost-effective for large-scale energy production. Furthermore, green hydrogen can be stored for long periods without degrading, making it an ideal choice for long-term energy storage solutions.
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Picture source: Terry Vlisidis