Hydrogène de France (HDF) Energy has partnered with European Investment Bank partner to implement Namibia’s first green hydrogen power plant.
The new green hydrogen cooperation was announced at the Namibian pavilion at COP27 by the President of the Republic of Namibia Hage Geingob; President of the European Investment Bank Dr Werner Hoyer; and President of the European Commission Ursula von der Leyen.
“This partnership represents a concrete step in delivering Namibia’s clean energy ambition. This new investment demonstrates Namibia’s leadership in green hydrogen,” Geingob said at the launch.
HDF Energy Director for Southern and East Africa Nicolas Lecomte thanked the European Investment for their support of the Swakopmund development. “The signature today is a key step of our longstanding engagement with the EIB for the project, that takes us closer to reaching financial close in 2023 and starting construction of the first large scale green hydrogen project in Africa,” said Lecomte.
Hoyer said they were pleased that the EIB was working closely with HDF Energy to harness Namibia’s solar and wind potential and unlock opportunities for the energy transition. “Our agreement confirmed at COP27 today with HDF will help to accelerate large scale deployment of green hydrogen infrastructure in Namibia based on proven investment in South America,” said Hoyer.
Sovereign loan facility for hydrogen development
The new agreement between HDF Energy and the EIB was unveiled alongside the announcement of a new sovereign loan facility of €500 million by the European Commission to develop the green hydrogen sector in Namibia.
HDF Energy is developing the Renewstable Swakopmund, a green hydrogen power plant in Swakopmund in Erongo region of Namibia. Once operational, the project will enhance 24/7 local clean electricity generation and grid supporting services, directly contributing to security of electricity supply in Namibia.
The new EIB cooperation with HDF Energy for the Renewstable Swakopmund accelerate project implementation will allow Namibia to lowering the price of electricity to end-consumers and kick-start the implementation of green hydrogen investment and development of technical green hydrogen skills in Namibia.
At the upcoming Enlit Africa in May2023 we will unpack the feasibility of hydrogen energy, challenges some countries in Africa face when working on bilateral agreements and how to navigate some said challenges. We also explore what utilities in Africa need to do to achieve sustainable tariffs.
