The green hydrogen sector has, to date, created 500 jobs with 80% of the workforce from previously disadvantaged groups, an official has revealed.
The Green Hydrogen Council Chairperson Obeth Kandjoze said the Environmental Investment Fund of Namibia (EIF) should work towards sourcing more funds for the realisation of green hydrogen development through the SDG Namibia One, a vehicle that was created to solicit and manage the climate fund.
“The fruits are there and we are already feeling the tangible benefit. The greater value is yet to be realised, it takes time, thus we ask for your time and patience as we work towards achieving this goal. Therefore, EIF is working on securing about N$1 billion to be used in developing the sector before the end of the Harambee Prosperity Plan II. And not long ago they received a €40 million grant to kick start their activities,” he said.
Securing funding is towards the government’s objective for the development of the Southern Corridor Development Initiative (SCDI), which aims to mobilise more funding.
This comes after Namibia and the European Union signed an agreement to collaborate and trade with the block on renewable energy.
As a result, SDG Namibia One, a blended financing vehicle, was established to be managed by Nam-H2, through EIF in partnership with Dutch organisations, Climate Fund Managers and Invest International.
Namibia is aiming to become a green hydrogen superpower in the coming decade by positioning itself as a leader in emerging markets and an international exporter of green hydrogen.
Green hydrogen will be an important source of foreign investment and be important for the country’s energy security and transition. The government plans to use it extensively to decarbonise its own economy.
Namibia has the potential to offer low-cost green hydrogen production (second only to Chile) owing to its abundance of solar and wind resources.
Currently, four pilot projects focused on the creation of a green hydrogen village, a production plant, green schemes and a fertiliser plant are being undertaken in //Kharas, Erongo and Kunene regions.-miningandenergy.com.na
