- USAID has announced a $1-million grant to Namibia Hydrogen.
- The funds will be allocated to the $1.15-billion SDG Namibia One fund.
The US Agency for International Development (USAID) has announced a $1-million grant to Namibia Hydrogen Fund Managers. This grant aims to support the sustainable development of the country’s green hydrogen industry.
The funds will be allocated to the $1.15-billion SDG Namibia One fund, the designated funding partner to the Namibian government’s green hydrogen initiatives.
Namibia’s green hydrogen is estimated to be some of the most cost-competitive globally due to the country’s high wind speeds and solar irradiation levels – it has already attracted the interest of many investors.
These investors include Germany, Belgium, Japan, The Netherlands and the broader European Union.
Also, Global investors will be able to access further financing and trade opportunities associated with Namibia’s growing hydrogen sector through a dedicated country spotlight at the Invest in African Energy(IAE) 2024 forum in Paris on May 14-15.
IAE 2024 is an exclusive forum to facilitate investment between African energy markets and global investors.
Furthermore, Namibia is also spearheading the development of the Daures Green Hydrogen Village – a JV between Fortescue Future Industries and Enersense Energy Namibia – as well as secured investment from France’s HDF Energy and the European Investment Bank to develop a green hydrogen power plant with 85 MW of solar capacity.
Also, the United States Ambassador to Namibia, Randy Berry, said, “In the global race to develop green hydrogen, Namibia is at the forefront…I applaud the government of Namibia for recognising that hydrogen presents the country with the unique opportunity to develop a low-carbon industry.“