The Netherlands and Denmark are working together to set up a USD 1 bn fund to invest in green hydrogen projects in South Africa, Bloomberg reports, citing CEO of the Development Bank of Southern Africa Boitumelo Mosako. The fund is set to receive contributions from state finance institutions DBSA and the Industrial Development Corp of South Africa, as well as Sanlam Ltd. and the Hague-based Climate Fund Managers BV, Mosako said. The new fund is materializing as South Africa preps a USD 8.5 bn climate finance pact with some of the world’s richest countries to break away from the use of coal and accelerate its energy transition.

China breaks ground on the world’s largest solar panel facility: China’s LONGi Green Energy Technology has began construction on a USD 6.32 bn PV solar panel plant set to produce monocrystalline silicon wafers, Zawya reports, citing a report on the Xi’an municipal government’s official website. The silicon wafers will be capable of generating 100 GW annually and monocrystalline cells that can generate 50 GW and c.133 bn GWh of electricity annually, potentially cutting coal consumption by 48 mn metric tons.

ALSO- China’s CRRC reveals the first hydrogen-powered locomotive: China’s state-owned Railway Rolling Stock Corporation (CRRC) converted an internal combustion engine to a hydrogen-powered one, according to South China Morning Press. The engine runs for up to 190 hours relying on a hydrogen storage system which can be fueled in two hours, making it cheaper than fossil fuel-powered counterparts. With this tech, CRRC could potentially replace 90% of almost 8k of China’s fossil fuel-powered locomotives with hydrogen-powered locomotives, bringing down costs and carbon emissions at the same time.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Shell and Mitsubishi’s subsidiary Eneco announced delivering the first electricity production from the Hollandse Kust Noord windfarm to the Netherlands through its transmission operator, TenneT’s the electricity grid. (Reuters)
• The China National Nuclear Cooperation and the Pakistan Atomic Energy Commission have signed a USD 4.8 bn agreement to build a 1.2 GW nuclear power plant in Punjab, Pakistan. (Reuters)