Demonstrating rising US interest in African energy, the U.S. Agency for International Development (USAID) has announced a $1-million grant to Namibia Hydrogen Fund Managers, aimed at supporting sustainable development of the country’s green hydrogen industry. The funds will be allocated to the $1.15-billion SDG Namibia One Fund, the designated funding partner to the Namibian government’s green hydrogen initiatives.
The announcement comes as the US accelerates energy-focused investment across the continent, particularly in projects that align with decarbonization and net zero goals. Namibia’s green hydrogen – estimated to be some of the most cost-competitive globally due to the country’s high wind speeds and solar irradiation levels – has already attracted the interest of Germany, Belgium, Japan, The Netherlands and the broader European Union. Global investors will be able to access further financing and trade opportunities associated with Namibia’s growing hydrogen sector through a dedicated country spotlight at the Invest in African Energy (IAE) 2024 forum, taking place in Paris on May 14-15.
IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.invest-africa-energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
Last January, SDG Namibia One Fund acquired a 24% stake in Hyphen Hydrogen Energy’s $10-billion green hydrogen development. Located in the Tsau Khaeb National Park, the project represents the first large-scale green hydrogen facility in Namibia and the largest in sub-Saharan Africa. The project has a planned capacity of 7 GW of renewable energy and 3 GW of electrolyzer capacity to produce 350,000 tons of green ammonia per year by 2029.
Namibia is also spearheading the development of the Daures Green Hydrogen Village – a JV between Fortescue Future Industries and Enersense Energy Namibia – as well as secured investment from France’s HDF Energy and the European Investment Bank to develop a green hydrogen power plant with 85 MW of solar capacity.
“In the global race to develop green hydrogen, Namibia is at the forefront…I applaud the government of Namibia for recognizing that hydrogen presents the country with the unique opportunity to develop a low-carbon industry,” said US Ambassador to Namibia, Randy Berry.
