EU and Namibia Partner to Drive $21 Billion Investments in Green Hydrogen Sector
Key Ideas
- EU and Namibia aim to attract N$400 billion in European private investments for green hydrogen, potentially doubling Namibia's GDP.
- Partnership to drive global decarbonisation efforts, create jobs, and foster economic opportunities, particularly for the youth.
- Namibia's green industrialisation strategy requires over $55 billion in total investment, focusing on green hydrogen and manufacturing industries alongside infrastructure development.
- Namibia positioning itself as a global leader in green hydrogen and power-to-X markets, leveraging green power for foreign investment and energy security.
The European Union and Namibia have joined forces to attract N$400 billion in European private investments for Namibia's green hydrogen sector, with the potential to double the country's GDP. Spearheaded by European companies, seven to nine projects are underway, expected to reach final investment decisions by late 2025. This partnership aims to contribute to global decarbonisation efforts, create jobs, and provide economic opportunities, especially for the youth. The EU is collaborating with local organizations to enhance civil society engagement in the country's green energy and extractive sectors. Namibia's green industrialisation strategy requires over $55 billion in total investment, with a focus on green hydrogen, manufacturing industries, and infrastructure development. The country is strategically positioning itself to lead the global green hydrogen and power-to-X markets, aiming to attract foreign investment, enhance energy security, and support a just energy transition. Financial commitments from the EU, Germany, the Netherlands, and other partners highlight the support for Namibia's green hydrogen ambitions. The partnership between Germany's BMWK and Namibia's Ministry of Industrialisation and Trade focuses on creating a regulatory framework for green hydrogen quality and safety. Namibia's vision is outlined in reports that focus on localizing green industries and advancing selected sectors to drive green industrialization.
Topics
Africa
Sustainability
Investment
Youth Empowerment
Green Energy
Economic Development
Infrastructure Development
EU Partnership
Civil Society Engagement
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