EU commits €53.9m to green hydrogen and renewables in Southern Africa
EU Commissioner for Energy Kadri Simson has approved €53.9 million ($59.9 million) in funding to boost green hydrogen and renewable energy development in southern Africa. Namibia will receive the largest share, €36.9 million, with €50 million pledged to Namibian and South African hydrogen funds. This includes €25 million allocated to the SDG Namibia One fund, which aims to raise €1 billion for the 3GW Hyphen Hydrogen Energy project, expected to cost $10 billion.
The European Investment Bank and Dutch impact fund Invest International have contributed €540 million to the Hyphen project, with a final investment decision anticipated in 2025. The EU also granted €1.2 million to Namibia’s Green Hydrogen Programme to support the development and regulation of the sector. The investment is part of the EU’s effort to help Namibia achieve energy security and green industrialisation as part of its Vision 2030.
The Hyphen project has been labeled a “strategic foreign project” by Germany and is led by a joint venture between German company Enertrag and international investor Nicholas Holdings, with non-binding off-take agreements from RWE and South Korea’s Approtium.