The German government has pledged an investment of N.dollars 680 million for the development of Namibia’s green hydrogen industry, aimed at expanding the country’s economic growth through renewable energy.

Speaking at the launch of the green hydrogen and green ammonia project and handover of the Harambee Prosperity Plan (HPP) Quarter One report here on Tuesday, National Planning Commission Director Obeth Kandjoze said the project recognises the report’s call to develop complementary engines of economic growth through the green and blue economies and attract foreign and local investors to Namibia.

Kandjoze explained that the preliminary use of the funding includes green hydrogen bursaries, feasibility studies, the development of pilot plants and assisting in the establishment of a green hydrogen research institute at the University of Namibia.

He indicated that Namibia is ranked as one of the best countries in the world to produce green hydrogen and green ammonia, said to be one of the key future fuel sources to facilitate a carbon neutral future.

“Germany is indeed the largest and most industrialised economy and the country has dialled into proceedings in solidarity with our young nation to develop the industry that is endowed with so much potential,” he noted.

Kandjoze further noted that developed economies are spending a significant portion of money on research and development to increase the economic viability of hydrogen produced using renewable energy. He said Namibia has a great opportunity to benefit from significant inflow of investors and foster the establishment of a new industry.

At the same event, Presidential Economic Advisor James Mnyupe explained that the green hydrogen project will be implemented in the Sperrgebiet in the ||Kharas Region and will produce synthetic molecules from Namibia’s abundant renewable resources.

The feasibility study estimated to be completed by 2023 unlocks five megawatts of potential wind energy that will aid in combating climate change and the reduction of emissions.

Speaking virtually during the launch, the commissioner of Germany’s Green Hydrogen Council, Dr Stefan Kauffman said Germany takes pride in the opportunity, which he said will foster the economy and the livelihoods of Namibians, as well as contribute to the battle for a sustainable future through renewable energy.

Source: Namibia Press Agency