- According to a study that was recently by the European Investment Bank (EBI), Africa holds huge potential in the global hydrogen economy
- It estimates that tapping the sun’s energy for hydrogen production would mean 1,230 GWp of new solar energy generation.
According to a study that was recently by the European Investment Bank (EBI), Africa holds huge potential in the global hydrogen economy as it can harness its strong solar energy for the production of 50 million tonnes of green hydrogen every year by 2035.
According to the study, the production of hydrogen using solar power has been proven to be economically viable and can achieve a cost below EUR 2 per kilogramme. This is equivalent ti energy costs of USD 60 a barrel.
Unlocking Africa’s green hydrogen potential would bring numerous benefits such as helping to decarbonise local heavy industry, create jobs, secure the global energy supply and improve access to clean water and sustainable energy.
Based on the analysis, EUR 1 trillion can be invested in the production and transmission of green hydrogen in Africa.
The report is called Africa’s Extraordinary Green Hydrogen Potential and focuses on three hubs: Mauritania – Morocco, southern Africa and Egypt.
It estimates that tapping the sun’s energy for hydrogen production would mean 1,230 GWp of new solar energy generation.
The study outlines three prerequisites to reach the contemplated scale of hydrogen development: national planning, regulation and incentive schemes; pilot projects; and market-based partnerships to enable mass-scale off-take and to cooperate on needed infrastructure.
The report has been commissioned by the EIB, the International Solar Alliance and the African Union, with the support of the government of Mauritania, HyDeal and UCLG Africa. The analysis was conducted by consultancy CVA and will be followed by in-depth research in the next months.