The Namibian Presidency has announced that the Cabinet has approved a controversial N$192,1 billion deal with Hyphen Hydrogen Energy (Hyphen) for its green hydrogen project.
This was announced in a press statement issued on Wednesday afternoon by the Namibian Presidency.
The Hyphen project is expected to produce about two million tonnes of green ammonia annually for regional and global markets.
“The pioneering Feasibility and Implementation Agreement (FIA) planned to be signed on 26 May governs the process under which Namibia’s first green hydrogen project will be realised, as a first step in the implementation of the government’s broader green hydrogen strategy,” said the Namibian Presidency.
President Hage Geingob said on Friday they will kickstart the process in an effort to better the lives of Namibians.
“The Harambee Prosperity Plan II noted that the Namibian government would investigate the feasibility of incubating a synthetic fuels industry in Namibia, as a key transforming agent of our economy,” reads the statement.