Namibian Company’s Ambitious Green Hydrogen Project Secures Major Investment for Sustainable Future
In a monumental stride towards advancing Namibia’s green energy landscape, Hyphen, a pioneering force in the development of green hydrogen, has clinched a staggering N$95 million in funding. This financial injection, solidified through a strategic partnership with the Development Bank of Southern Africa (DBSA), propels Hyphen’s ambitious plans for engineering, environmental, and socioeconomic development associated with its groundbreaking green hydrogen projects.
Fueling Progress: Unveiling the N$95 Million Investment
The substantial N$95 million investment is earmarked to catalyze various aspects of Hyphen’s green hydrogen project development, steering it towards the final investment decision. Hyphen, expressing gratitude for the show of confidence from DBSA, is currently steering a full-scale development in southern Namibia, with a projected completion by the end of this decade.
Green Ammonia Revolution: Two Million Tonnes Annually for Global Markets
At the heart of Hyphen’s initiative lies the ambition to produce two million tonnes of green ammonia annually, destined for both regional and global markets. This eco-conscious production not only signifies a leap towards sustainability but also promises to generate employment, with an expected workforce of 15,000 construction workers and 3,000 full-time employees once the project reaches full operational capacity.
Strategic Collaboration: A Pioneering Approach in Green Energy
The collaboration between Hyphen and DBSA underscores the pivotal role of development finance institutions partnering with private companies in Africa to propel green energy projects. This strategic alliance, marked by the announcement on October 24, 2023, follows the earlier declaration of Hyphen and DBSA’s intention to establish a finance facility, showcasing the commitment to fostering sustainable development in the region.
Leadership Voices: Marco Raffinetti and Catherine Koffman
Marco Raffinetti, CEO of Hyphen Hydrogen Energy, underscores the critical role of collaborations with African banking institutions in ensuring the success of the project. He notes, “This funding facility shows these partnerships in action. It will provide crucial funding for the development and integration of the project, and subsequently, the socio-economic development of Namibia.”
Raffinetti emphasizes the shared vision of propelling the future of renewable energy not only in Namibia but beyond, expressing anticipation for a successful and transformative partnership.
Catherine Koffman, DBSA Group Executive Project Preparation, highlights the catalytic impact of the partnership between the private sector and development capital. She envisions that this collaboration could pave the way for the formation of a new asset class in the energy sector, promising a profound positive impact on Namibia and the region across economic, social, and environmental dimensions.
Green Horizon: Transforming Hard-to-Abate Industries with Green Hydrogen
Koffman emphasizes the importance of green hydrogen as a versatile energy carrier, crucial for decarbonizing key sectors, including hard-to-abate industries like steel and chemicals. This substantial investment from DBSA showcases the bank’s unwavering commitment to accelerating the transition to a net-zero future, marking a significant milestone in the journey towards a sustainable and environmentally conscious energy landscape.
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