Namibia secures N $ 682.3 million for green hydrogen
NAMIBIA is expected to receive more than N $ 682.3 million from the German government to help research into the exploitation of green hydrogen.
The funding, equivalent to around 40 million euros, was announced on Tuesday during the launch of the green hydrogen tender and the delivery of the second quarter report of the Harambee Prosperity Plan (HPPII).
National Planning Commissioner Obeth Kandjoze said that in addition to examining the feasibility of Namibia’s exploitation of green hydrogen, the money will also be used to set up the Hydrogen Council. Namibian green.
Kandjoze added that Namibia is in partnership with countries keen to help advance its development agenda and improve its economic performance.
“Preliminary estimates of this potential [project] estimate Namibia’s annual green ammonia production at over 2.5 million tonnes, thereby attracting over $ 6 billion in foreign direct investment, while generating annual revenues of over $ 800 million. Our presence here today is to test those estimates, ”Kandjoze noted.
He said the introduction of green hydrogen in Namibia will help push the country to the forefront of such development in the southern African region, as well as tap into the financial resources available through to investments.
“We are not alone in this endeavor. Germany is investing heavily in the green hydrogen industry in Namibia. Our two governments are on the verge of concluding an agreement which will see them invest up to 40 million euros, which, given the current exchange rate, translates into just over 680 million Namibian dollars, ”he said. he declared.
The University of Namibia will lead research for building a vibrant green hydrogen industry, with support from other stakeholders in Namibia and Germany.
Speaking at the same event, Presidential Economic Advisor James Mnyupe said the call for proposals calls on developers from around the world to converge around the // Karas region of Namibia to design and design a bright future for the inhabitants of this region and of the country as a whole.
“This RFP is the culmination of a Herculean effort by government officials from various offices, ministries and agencies,” he said.
An eight-member board has been created as well as a 15-member technical committee to support the development of the green hydrogen project, which falls under the HPPII.
“The funding will support the development of a green hydrogen industry, as outlined in the pillar of economic advancement. Preliminary uses of the funding include grants for green hydrogen, feasibility studies and the development of pilot plants, ”the report said.
President Hage Geingob, at the launch, invited the international community, starting with Africans, to submit their proposals. “So that we can fight against development and poverty by not using oil, but clean energy,” he said.
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