EU firms invest N$408 billion in green hydrogen initiatives

Namibia is poised to become a global leader in green hydrogen, with European firms committing N$408 billion to its burgeoning sector. Speaking at the 75th Euro Day celebrations, European Union (EU) Ambassador Ana Beatriz Martins hailed the investment as a transformative step for Namibia’s economy and its role in global decarbonisation. This follows the success of the HyIron Oshivela Project, a landmark in green industrialisation.The EU and the Netherlands recently contributed N$508 million to the SDG Namibia One Fund, supporting pioneering projects that position Namibia at the forefront of sustainable energy. “Six or more projects are exploring investments worth N$408 billion, potentially reshaping Namibia’s energy and economic landscape,” Martins said last week.Over the past 25 years, EU-Namibia relations have deepened significantly. In 2022, the Strategic Partnership on Green Hydrogen and Critical Raw Materials was launched, delivering tangible results. The Strategic Partnership on Green Hydrogen and Critical Raw Materials between the European Union (EU) and Namibia is a bilateral agreement aimed at fostering sustainable development, economic growth, and global decarbonization by leveraging Namibia’s abundant renewable energy resources and critical raw material reserves. Formalized through a Memorandum of Understanding (MoU) signed on November 8, 2022, at COP27 in Cairo, Egypt. Namibia’s green hydrogen strategy targets producing 10-12 million tonnes per annum of hydrogen equivalent by 2050, with projects like Hyphen Tsau Khaeb aiming for 300 000 tonnes annually by 2030. McKinsey estimates the sector could add US$6 billion to GDP by 2030 (a 30% increase) and create 80 000 jobs by 2030 and up to 600,000 by 2040.The recent inauguration of the HyIron Oshivela Project in Arandis, led by President Netumbo Nandi-Ndaitwah, marked a milestone. The facility, the world’s first to produce iron using green energy, features Namibia’s second-largest solar park and was built by 400 local engineers and workers.“This project showcases the power of collaboration under the EU’s Global Gateway initiative,” Martins said.

EU firms invest N$408 billion in green hydrogen initiatives

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Republikein 2026-05-04

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EU firms invest N$408 billion in green hydrogen initiatives

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