Germany’s envoy on Green Hydrogen, Rainer Baake and Presidential Economic Advisor and Namibia’s green hydrogen commissioner James Mnyupe recently paid a courtesy visit to the Environmental Investment Fund of Namibia.
The discussions where around the Namibia’s potential on the development of green hydrogen and ammonia export to the Germany and to a large extend to the Europe Union.
Baake expressed his country’s keen interest in supporting Namibia’s potential and ambition of developing low-cost renewable energy and its ability to sustainably maximise fiscal revenue from the green hydrogen.
Presidential Economic Advisor and Namibia’s green hydrogen commissioner James Mnyupe highlighted that the Government of Republic of Namibia has flagged the green hydrogen as national development priority in Harambee Prosperity Plan II, the Green Hydrogen council has been established and that this puts Namibia in the game as a player striving to become a global leader in exporting low-cost green hydrogen products. He further highlighted that EIF’s capacity in terms of project management and its accreditation and re-accreditation experience with an international entity such as the Green Climate Fund puts it in a unique position to help with mobilisation of blended financing for green hydrogen economy in Namibia.
Speaking on behalf of the Environmental Investment Fund was the Chief Executive Officer, Benedict Libanda gave brief description of the inception of the Fund, experience with projects such as the N$ 800 million credit line under the SUNREF Namibia Project, opportunities that came with the accreditation of the EIF to the Green Climate Fund, experience with project management and its role in the scaling of a green hydrogen economy in Namibia.
Libanda further noted that the Fund has up to date managed to raise N$ 1.7 billion from developmental and multilateral partners for sustainable financing projects in Namibia. In his closing he denoted that the EIF is party to the SDG Namibia One concept, that is tasked with the mandate of being a one-stop shop connecting and blending multiple capital sources with green projects in Namibia.