HDF Energy and the EIB to implement green hydrogen plant in Namibia

The new green hydrogen cooperation was announced at the Namibian pavilion COP 27 by Dr. Hage Geingob, President of the Republic of Namibia, Dr. Werner Hoyer, President of the EIB, Ursula von der Leyen, President of the European Commission.

“This partnership represents a concrete step in delivering Namibia’s clean energy ambition. This new investment demonstrates Namibia’s leadership in green hydrogen” said Dr. Hage Geingob, President of the Republic of Namibia.

“I would like to thank the EIB for the continuous support to the development in Swakopmund. 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” says Nicolas Lecomte, HDF’s Director for Southern and East Africa.

“The EIB works with leading partners to support clean energy investment across Africa. I am pleased that the EIB is 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 Werner Hoyer, President of the EIB.

The agreement was signed by Maria Shaw-Barragan, EIB Director of lending in Africa, Caribbean, Pacific, Asia and Latin America, and Nicolas Lecomte, HDF’s Director for Southern and East Africa, and witnessed by Hon. Lipumbu Shiimi, Minister of Finance of Namibia.

The new agreement between HDF Energy and the EIB was unveiled alongside the announcement of a new sovereign loan facility of €500 million by Ursula von der Leyen, President of the European Commission, and Dr. Hage Geingob, President of the Republic of Namibia to develop the green hydrogen sector in the country.

HDF Energy is developing the Renewstable® Swakopmund, a green hydrogen power plant in Swakopmund, Erongo region of Namibia. Once operational, the project will enhance local clean electricity generation, 24 hr/d, and grid-supporting services, directly contributing to security of electricity supply in Namibia.

The new EIB cooperation with HDF Energy for the Renewstable Swakopmund accelerates project implementation, allowing Namibia to lower the price of electricity to end-consumers, and kick-starting implementation of green hydrogen investment and development of technical green hydrogen skills in Namibia.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/09112022/hdf-energy-and-the-eib-to-implement-green-hydrogen-plant-in-namibia/