Namibia has been invited to access $250 million in funding for green hydrogen projects, a significant step towards the country’s renewable energy transition. The Namibian Government made the statement in partnership with the global investment firm Ninety One. The investment aims to encourage large-scale commercial enterprises that are consistent with the country’s decarbonisation agenda and its broader vision of green industrialisation.
The finance is planned to be reinforced further by matching contributions from global development banks and other financial institutions. The program is part of the Climate Investment Funds’ Industry Decarbonisation effort, which aims to advance sustainable technology in hard-to-abate sectors including iron and steel, cement, petrochemicals, shipping, textiles, pulp and paper, and non-ferrous metals.
According to the Namibian Green Hydrogen Programme (NGH2P), this program is consistent with the country’s Sixth National Development Plan, which recognises green hydrogen as a key driver of long-term growth.
Namibia’s hydrogen ambitions are already anchored by the $10 billion Hyphen project located in Tsau ǁ Khaeb National Park. The project is planned to produce up to two million tonnes of green ammonia per year by 2030, potentially reducing carbon dioxide emissions by six million tonnes.
