{"id":61039,"date":"2024-01-05T16:13:49","date_gmt":"2024-01-05T16:13:49","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake"},"modified":"2024-01-05T17:37:27","modified_gmt":"2024-01-05T17:37:27","slug":"hyphen-govt-agree-on-24-equity-stake","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake","title":{"rendered":"Hyphen, Govt agree on 24% equity stake"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>After extensive preparations spanning several months, the government has successfully finalised an agreement in which it will acquire a 24% stake in the country\u2019s first large-scale green hydrogen project.<\/b><\/p>\n

On 22 December, Hyphen Hydrogen Energy announced that the government, via the SDG Namibia One fund, finalised a share subscription agreement.<\/p>\n

To support this, the Hyphen project will be provided an initial 23 million euro (approximately N$467 million) in development funding.<\/p>\n

Benedict Libanda, the chief executive of the Environmental Investment Fund (EIF), says by securing a 24% equity stake in the Hyphen green hydrogen project, the fund is not merely funding a project, but igniting Namibia\u2019s path towards becoming a front-runner in global green hydrogen production.<\/p>\n

\u201cThis milestone is also a stepping stone for green industrialisation in Namibia, marking our commitment to shaping a cleaner and more sustainable tomorrow,\u201d he says.<\/p>\n

SDG Namibia One is a government-driven fund which finances green hydrogen projects and infrastructure in Namibia.<\/p>\n

The fund aims to gather US$1 billion from investors worldwide and in Namibia to support these initiatives.<\/p>\n

The fund is jointly managed by Climate Fund Managers (CFM), a climate-centric blended finance fund manager, Dutch development financing institution Invest International and the EIF of Namibia.<\/p>\n

The EIF\u2019s involvement ensures direct access and ownership of the Namibian government in the project, whereas CFM and Invest International bring in the required institutional and funding capacity.<\/p>\n

Andrew Johnstone, the chief executive of CFM, says green hydrogen has a pivotal and unique role to play in achieving net-zero targets by 2050.<\/p>\n

\u201cThe Hyphen project, groundbreaking in both scale and impact, is a masterclass in how the public and private sectors can work together to unlock the potential of this exciting new sector, driving economic growth for Namibia and a greener, more resilient future,\u201d he says.<\/p>\n

Invest International chief executive Joost Oorthuizen said: \u201cToday\u2019s announcement reinforces Namibia\u2019s position as a leader in the global green energy movement and the government\u2019s continued commitment to realising the potential of the green hydrogen sector for all Namibians.\u201d<\/p>\n

The Hyphen project, which will be developed on 4 000km2 of land within the Tsau \/\/Khaeb National Park, is Namibia\u2019s first fully vertically integrated GW-scale green hydrogen project and the largest green hydrogen production project in sub-Saharan Africa.<\/p>\n

Upon completion of phases 1 and 2, it is estimated that it would produce two million tonnes of green ammonia (a hydrogen derivative that is easier to transport) annually from ~7GW of predominantly wind and solar renewable energy generation capacity, and ~3GW of electrolyser capacity.<\/p>\n

Hyphen\u2019s chief executive, Marco Raffinetti, says the company is committed to establishing a new global benchmark for sustainable and fair development in large-scale green hydrogen projects through its collaboration with the government.<\/p>\n

\u201cNamibia\u2019s equity stake and its management through this new fund is truly world-leading and provides a template for future projects in Namibia and abroad,\u201d he says.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. After extensive preparations spanning several months, the government has successfully finalised an agreement in which it will acquire a 24% stake in the country\u2019s first large-scale green hydrogen project. On 22 December, Hyphen Hydrogen Energy announced that the government, via the SDG Namibia One fund, finalised a share subscription agreement. To support […]<\/p>\n","protected":false},"author":84,"featured_media":61038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[234,236,233],"class_list":["post-61039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nHyphen, Govt agree on 24% equity stake - Namibia<\/title>\n<meta name=\"description\" content=\"After extensive preparations spanning several months, the government has successfully finalised an agreement in which ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyphen, Govt agree on 24% equity stake\" \/>\n<meta property=\"og:description\" content=\"After extensive preparations spanning several months, the government has successfully finalised an agreement in which ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-05T16:13:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-05T17:37:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/01\/sm_1704463594.518051.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"751\" \/>\n\t<meta property=\"og:image:height\" content=\"451\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Hyphen, Govt agree on 24% equity stake\",\"datePublished\":\"2024-01-05T16:13:49+00:00\",\"dateModified\":\"2024-01-05T17:37:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake\"},\"wordCount\":494,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/01\/sm_1704463594.518051.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/hyphen-govt-agree-on-24-equity-stake\",\"name\":\"Hyphen, Govt agree on 24% equity stake - 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