Green Hydrogen Funding just N$814m available Project cost N$185b

• By Kaipaherue Kandjii & Uaueza Kanguatjivi

NAMIBIA’S green hydrogen commissioner, James Mnyupe, says the SGD Namibia One Fund has a €40m (N$814m) investment for starting the massive project, estimated at US$10b (N$185b).
Hyphen Hydrogen Energy, a joint venture between Nicholas Holdings of the UK and ENERTRAG of Germany, is the project operator, while the government of Namibia has a 24 per cent (N$16b) stake.

The project is being developed in the Tsau //Khaeb National Park near Lüderitz.
The SGD Namibia One Fund is a partnership of the Environmental Investment Fund of Namibia (owned by the Namibian Government), Climate Fund Managers and Invest International.
The government of Namibia created the Environmental Investment Fund of Namibia (EIF) to support individuals, projects, and communities in using natural resources sustainably.
Climate Fund Managers (CFM) are investment managers who mitigate and build resilience to climate change in the areas most affected by its consequences using blended finance structured to attract public and private capital to invest in high-impact sectors in emerging economies.

Invest International is 51 per cent owned by the Dutch Ministry of Finance and 49 per cent by the Financierings-Maatschappij voor Ontwikkelingslanden (FMO).
The parties created the partnership in November 2022 when Invest International pledged €40m, with promises that more work would be done to bring more investors on board.
However, slightly more than one year later, Mnyupe said the fund still has €40m, just enough to fund the two-year feasibility study.
“We have so far raised €40m. We are hoping to go in a full fundraising effort next year to crowd in new funding,” Mnyupe told Confidente on Tuesday.
According to Mnyupe, part of the €40m grant will fund the government’s share of the development budget.

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