By Benjamin Wickham
WINDHOEK, March 10 — Namibia is preparing to launch a green hydrogen fund in July 2023, which is aimed at promoting the use of renewable energy and decarbonizing the country’s economy. The Green Hydrogen Fund will be managed by the Development Bank of Namibia and will finance the production, storage, and distribution of green hydrogen.
Green hydrogen is produced by the electrolysis of water, using renewable energy sources such as wind or solar power. This process produces no greenhouse gas emissions and can be used as a clean and sustainable alternative to fossil fuels in various applications, including transportation, power generation, and industrial processes.
The Namibian government has identified green hydrogen as a key component of its strategy to achieve carbon neutrality by 2050. The country has abundant renewable energy resources, including solar and wind, which make it an attractive location for the production of green hydrogen. Namibia is also strategically located, with access to key markets in Africa and Europe.
The Green Hydrogen Fund is expected to provide financing for projects that promote the development of a green hydrogen ecosystem in Namibia. This will include investments in renewable energy infrastructure, such as solar and wind power plants, as well as the development of hydrogen production, storage, and distribution facilities.
The fund will also support research and development activities aimed at improving the efficiency and cost-effectiveness of green hydrogen production. This will include investments in new technologies and processes that can help to reduce the cost of producing green hydrogen and make it more competitive with fossil fuels.
The launch of the Green Hydrogen Fund is part of a broader effort by the Namibian government to promote sustainable development and reduce the country’s reliance on fossil fuels. This includes initiatives such as the National Renewable Energy Policy, which aims to increase the share of renewable energy in the country’s energy mix to 70% by 2030.
Overall, the Green Hydrogen Fund represents an exciting opportunity for Namibia to promote sustainable development and position itself as a leader in the production of green hydrogen. By leveraging its abundant renewable energy resources and strategic location, Namibia can play a key role in the global transition to a more sustainable and low-carbon future. – Namibia Daily News
