The President of Namibia, H.E. Hage Gottfried Geingob announced the country will take advantage of the vast green hydrogen opportunities in 2022. Namibia is set to receive approximately $6.3 million in concessional fees from Hyphen Hydrogen Energy – a project development company operating green hydrogen production facilities in the country.
The fee will help the government to track the progress of its green hydrogen development that is targeted to facilitate the country’s economic growth.
“In 2022… We shall deliver Namibia’s Green Hydrogen strategy, outlining a clear pathway to unlocking even greater investments and to establishing Namibia as a regional and global decarbonization champion,” said the President.
Back in November 2021, Namibia announced Hyphen Hydrogen Energy as a preferred bidder to build and operate a $9.4 billion green hydrogen project in the Tsau/ Khaeb National Park. It is the country’s first large-scale vertically integrated green hydrogen initiative. It aims to produce up to 300,000 tons per year of renewable energy hydrogen and green ammonia.
Once fully operational, the hydrogen project is expected to bring foreign investments and jobs growth to the developing country. The project will build 2 GW of renewable energy generation capacity by 2026 to produce hydrogen for conversion into ammonia and is planned to expand to 5 GW of capacity by the end of the 2020s.
The Tsau/ Khaeb National Park is forming to be one of the top locations for green hydrogen production in the world, which sends an important message for the value clean energy technologies could bring for developing countries. Green hydrogen could be a golden investment opportunity not just for oil and gas companies and green energy players around the world, but also for countries willing to expand their economic growth.