Finland is scouting for trade and investment opportunities in Namibia’s energy sector, with a particular focus on green hydrogen.
Finnish Minister for Development Cooperation and Foreign Trade Ville Skinnari will lead a delegation to Namibia on a three-day visit.
Business Finland, a public organization under the Finnish Ministry of Employment and the Economy, said the visit to Namibia is targeted particularly at the Finnish energy sector stakeholders with green transition solutions.
“These include companies with technology and expertise related to renewable energy solutions, green hydrogen, synthetic fuels, waste-to-value, energy systems and smart energy solutions. In Namibia, delegates will have the opportunity to meet key energy sector stakeholders, including the Government officials and decision-makers, green hydrogen industry representatives and private sector representatives, and to discuss ongoing and planned projects,” added the organisation.
The latest interest in investment opportunities by the Nordic country comes as the Namibian government has introduced ambitious plans to diversify the domestic economy and to attract more foreign investment and to create more jobs.
The country’s plan is based on green transition by increasing the production of green energy, multiplying the national production of electricity with renewables, and to become a major global producer of green hydrogen.
Namibia is targeting to create a green fuels industry with a production capacity of 10-12 million tonnes per annum (Mtpa) of hydrogen equivalent (H2) by 2050.
Under the net-zero scenario, global demand for hydrogen and its derivatives is expected to soar from an estimated 140 Mtpa of hydrogen equivalent in 2030 to 660 Mtpa in 2050.
Namibia’s long-term strategy is to produce more than green hydrogen and aims to export green ammonia, e-methanol, synthetic kerosene and hot-briquetted iron, where the final ambition is to also manufacture more complex products, such as green zinc and steel, and this will be achieved by developing three hydrogen valleys: in the southern region of //Kharas, the central region including Walvis Bay port and the capital Windhoek, and the northern region of Kunene.
Hyphen Hydrogen Energy, a joint venture between Nicholas Holdings of the UK and ENERTRAG of Germany was selected as the preferred bidder for the country’s first green hydrogen project in November 2021.
Hydrogène de France (HDF) Energy is also developing the Renewstable® Swakopmund, which consists of an 85MW solar park and a green hydrogen production unit, with the facility expected to begin commercial operations in 2024.
Namibia, according to Presidential Economic Advisor and Hydrogen Commissioner James Mnyupe, has secured over 540 million euros in climate finance from the Dutch government and European Investment Bank at the COP27 summit.
