Windhoek, 4 September 2024: Namibia Hydrogen Fund Managers (Pty) Limited (“Nam-H2 Fund Managers”), an infrastructure fund manager headquartered in Windhoek, today announced a EUR 25 million investment from the European Union to its flagship green hydrogen facility, SDG Namibia One Fund. This landmark investment will drive the development of Namibia’s green hydrogen sector, fuelling long-term social and economic growth while accelerating the global energy transition.
Nam-H2 Fund Managers, a joint venture co-owned by the Environmental Investment Fund (EIF), is the manager of the SDG Namibia One Fund – a USD 1 billion target blended finance facility designed to pioneer the green hydrogen sector and related infrastructure in Namibia. The European Commission is the third donor funder welcomed by Nam-H2 Fund Managers and SDG Namibia One following Dutch development financing institution Invest International and USAID Southern Africa Mobilizing Investment.
EU Energy Commissioner Kadri Simson announced the European Union’s contribution earlier today at an event held alongside the inaugural Global African Hydrogen Summit in Windhoek. The event was hosted by Namibia’s Minister of Energy and Mines, Hon. Tom Alweendo, and attended by high-level dignitaries from Namibia, the Netherlands, Belgium, and Germany.
The Global African Hydrogen Summit, which Nam-H2 Fund Managers is co-sponsoring as an Associated Partner, convened industry leaders from across the world to discuss expediting Africa’s green industrial revolution. Blended finance, an innovative mechanism that utilises public sector capital to de-risk investments and mobilise private investment at scale, was identified as a turnkey solution to incubate critical sectors of Africa’s green economy, including green hydrogen.
Benedict Libanda, CEO of EIF said: “Green hydrogen is pivotal to the energy transition and with our rich wind and solar resources, Namibia is positioned to become a global production and export hub. The European Union’s investment is a crucial step in transforming this potential into a reality, for the benefit of all Namibians.”
Mercia Geises, CEO of Nam-H2 Fund Managers said: “We are honoured to welcome the European Union as an investor in developing Namibia’s green hydrogen sector. Their contribution will catalyse substantial public and private sector investment across the value chain, accelerating our journey towards making Namibia a global player in green hydrogen.”
SDG Namibia One made its inaugural investment in December 2023, committing EUR 23 million in development funding to Hyphen Hydrogen Energy, Namibia’s first fully vertically integrated GW-scale green hydrogen project and the largest green hydrogen production initiative in Sub-Saharan Africa.
