Hyphen Hydrogen Energy closes €5 million financing deal for its Namibia’s green hydrogen project together with the Development Bank of South Africa (DBSA) in regard to the Namibian green hydrogen project value of USD 10 billion.
Completion date
This project should reach its full capacity in the year 2030, and require initial capital cost amounting to $10 billion.
The loan to be disbursed during the upcoming COP28 has been marked out as providing partial funding for engineering, environmental and socio economic studies necessary for taking project to final investment decision (FID).
lending institution
The success of the Hyphen project will greatly depend on collaboration and partnership with African lending institutions, Development Bank of South Africa. This is what this funding facility demonstrates – Marco Raffinetti, CEO of Hyphen Hydrogen Energy.
Furthermore he stated that it will give essential money to advance and incorporate ventures which would then guide societal improvement of Namibia. Therefore, HYREN and the DBSA share a common cause towards realizing a bright tomorrow for renewable energy in Namibia and elsewhere, and we eager
Catherine Koffman, Group Executive Project Preparation at the DBSA added that, in partnership with Hyphen, a new asset class is bound to be created in the energy sector which would bring significant economic, socio-economic and environmental gains in Namibia and the region.
Scope of the project
Namibia’s green hydrogen project is Planned to power 3GW of electrolysis with 7GW of renewables-sourced electricity generation capability.
Hyphen received this award on Wednesday, December 6th, at COP28.
Read also Namibian Government and Hyphen Hydrogen Energy Set Dates for National Green Hydrogen Roadshow
