Green hydrogen offers a viable solution to various energy challenges, including the storage of variable output from renewables, like solar photovoltaic (PV) and wind. It also provides a pathway to decarbonise sectors such as long-haul transport, chemicals, and iron and steel, where reducing emissions has proven challenging.
Nedbank Namibia says the versatility of hydrogen makes it a cornerstone of the energy transition, capable of addressing multiple aspects of our energy needs while reducing our carbon footprint.
Namibia’s strategic move towards green hydrogen is part of a broader ambition to reduce reliance on fossil fuels, accelerate access to electricity, and meet global climate commitments. This potential energy game changer is drawing considerable interest from the private sector, particularly heavy energy users like mining and manufacturing companies. The interest from these sectors underscores the economic viability and environmental necessity of green hydrogen as a key component of our future energy mix.
Nedbank Namibia recently brought together industry players to discuss the financing prospects, collaboration opportunities, as well as the potential sustainable economic expansion opportunities within Namibia’s green energy and green hydrogen industries. The information sharing event provided a pivotal opportunity to chart Namibia’s path forward amidst the imminent clean energy revolution.
Nedbank Namibia Managing Director, Martha Murorua, reflected on the late President Hage G. Geingob’s bold stance on renewable energy at the UN Climate Change Conference held in Dubai last year, where he expressed his desire to position Namibia as ‘a hub for renewable energy innovation, driving green industrialisation that creates jobs, fosters economic development, and ensures energy access for all.’
Chief Executive Officer of the Environmental Investment Fund of Namibia (EIF), Benedict Libanda, highlighted the increasing global demand for green hydrogen energy and the significant opportunities for banks and lenders to participate in this burgeoning sector.
“Global investment in green hydrogen is projected to reach US$500 billion by 2030, and by 2050, the global economy is expected to require 500 million tonnes of hydrogen annually to meet these targets,” said Libanda.
Nedbank Group Managing Executive for Corporate Investment Banking, Anel Bosman, said addressing climate change has never been more urgent.
“The next decade will be a pivotal period that challenges our ability to adapt, especially as Africa is experiencing accelerated warming compared to the global average. This effort goes beyond preserving our environment and ecosystems; it’s about protecting our economies and societies from the profound impacts of climate change,” said Bosman.
Governor of the //Kharas region, where most renewable energy and green hydrogen projects will take place, Aletha Frederick, emphasised the urgent need to address critical issues that may prevent the region from attracting the much-needed foreign investment, and the need to improve the region’s infrastructure such as the road networks, water and sanitation systems, access to education, telecommunications, and healthcare facilities.
