Masdar Explores Green Hydrogen Potential in Namibia
Key Ideas
- Masdar is assessing Namibia's green hydrogen industry for potential investment, aiming to develop 10GW of capacity in sub-Saharan Africa.
- The company emphasizes the importance of renewable energy due to its cost-effectiveness and contribution to Africa's electrification and energy transition.
- Masdar collaborates with governments to create favorable conditions for energy projects and advocates for increased investment in renewable energy in Africa.
- Africa, despite its abundant renewable resources, receives a small share of global investments in renewables, exacerbating the energy access deficit on the continent.
Masdar, the Abu Dhabi Future Energy Company, is currently evaluating Namibia's green hydrogen industry for potential investment. At the Accelerated Partnership for Renewables Africa summit in Nairobi, Kenya, Martin Nagell, a Masdar adviser, mentioned that a team is conducting an assessment of the local green hydrogen sector. Masdar's ambitious plan includes developing 10GW of installed capacity over the next seven years in six sub-Saharan African countries to support Africa's electrification and energy transition. The company, known for its focus on renewable energy, particularly highlighted the cost-effectiveness of solar power compared to non-renewable sources. Masdar aims to work closely with governments to facilitate energy projects and enable the provision of low-cost electricity. Despite Africa's renewable energy potential, the continent suffers from an energy access deficit, with meager investments in renewable projects. Masdar's approach involves advocating for increased investment in renewables in Africa to address this issue and promote sustainable energy practices.