Namibia sees about $10bn investment in green hydrogen project
Namibia says its green hydrogen project is progressing with final discussions with the preferred bidder taking place in May. CNBC Africa's Godfrey Mutizwa caught up with James Mnyupe, the Presidential economic adviser for an update.
Tue, 15 Mar 2022 12:45:22 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The green hydrogen project in Namibia has attracted significant international interest and partnerships, with a potential investment of $9.4 billion.
- The project aims to create thousands of jobs and contribute to the country's economic development.
- Despite geopolitical tensions impacting traditional energy markets, the project's outlook remains positive due to the increasing competitiveness of green hydrogen.
Namibia's ambitious green hydrogen project is making significant progress, with final discussions with the preferred bidder set to take place in May. James Miupe, the Presidential Economic Advisor, provided an update on the project, highlighting the substantial international interest and partnerships that have been forged. The project, which aims to bring in around $9.4 billion in investment, has the potential to create thousands of jobs and boost the country's economy. The green hydrogen project has gained momentum as the global demand for clean energy sources escalates. Despite geopolitical tensions impacting traditional energy markets, the project's outlook remains positive due to the increasing competitiveness of green hydrogen. The project's timeline includes key milestones such as finalizing the implementation agreement by May 2022 and commencing construction by 2025, with first production expected in 2027. Namibia is positioning itself as a key player in the green hydrogen sector, leveraging its natural resources and strategic partnerships to drive sustainable economic growth.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.
