Approximately seven European companies have expressed interest in investing in Namibia’s green hydrogen economy, with a prospective investment pipeline exceeding N$430 billion (€20 billion), the European Union (EU) Ambassador to Namibia, Ana Beatriz Martins, has revealed.
Speaking at the HyIron Oshivela Grand Opening event, Martins said: “It is worth noting that EU companies are also leading investors, bringing more growth and job opportunities for Namibians in the future.”
A significant number of European nations’ decarbonisation targets, along with regulatory instruments such as the Carbon Border Adjustment Mechanism, have positioned Namibia as a key supplier of clean energy and materials produced with minimal carbon emissions.
“The EU’s support encompasses investments through blended finance and capacity building — notably to help the Green Hydrogen Programme develop an enabling regulatory framework and carry out the necessary Environmental, Social and Governance (ESG) assessments,” the EU Ambassador said.
She further emphasised the importance of capacity building to upgrade Namibia’s port infrastructure to support the green transition, as well as vocational education and training programmes in the green energy sector. Additional support is also being directed towards Namibia’s civil society, to enhance transparency, participation, and public awareness regarding renewable energy and extractive industries.
Currently, six European countries are active in Namibia’s green energy sector.
Among them, HyIron inaugurated its Oshivela plant on Friday near Arandis. The project, a partnership between Namibian and German companies, has entered its second phase of operations, aiming to scale up production from 15,000 to 200,000 tonnes per year.
“Prospective offtake agreements with leading European and Asian steel and manufacturing companies are clear signs of global market confidence in this new product,” Martins said.
Last month, HyIron’s Oshivela plant successfully produced its first green hydrogen, with production of green iron ore set to commence shortly.
“HyIron and Cleanergy are among the first to complete their pilot phases. Other ventures involving European capital and technology — such as Zhero and Hyphen — are expected to reach Final Investment Decision by the end of next year,” she noted.
The two-year pilot phase incorporated over 60 Namibian small and medium-sized enterprises, while more than 400 Namibians were employed during the period.
