© Hyphen Hydrogen Energy
© Hyphen Hydrogen Energy
A Letter of Intent (LOI) has been presented to Enertrag by the German Government to confirm the final approval of Hyphen Hydrogen Energy’s Namibian project.
Expected to produce two million tonnes of green ammonia annually, the LOI has recommended the project is designated as a “strategic foreign project,” reserved for high-priority global projects of interest to Germany.
Being recognised as a strategic foreign project means Hyphen, a joint venture between Enertrag and Nicholas Holdings Limited, could secure energy supplies, expand trade relationships, promote sustainable development and enhance security cooperation.
Dr. Robert Habeck, German Federal Minister for Economic Affairs and Climate Protection, claimed Germany wants to support the development of a green hydrogen economy in Namibia, which will be “sustainable for the propulsion through hydrogen and PtX corporation.”
He added that by categorising it as a foreign project, Germany will “provide more support than usual through foreign trade promotion instruments.”
Habeck was present at the LOI signing, along with Gunar Hering, CEO of Enertrag. Namibia’s Minister of Mines and Energy, Tom Alweendo, and James Mnyupe, Green Hydrogen Commissioner and Economic Advisor to the President of Namibia were also present.
Marco Raffinetti, CEO of Hyphen, believes the LOI reflects the role Namibia will play in “decarbonising heavy industry in Europe,” and also the role Germany has in global decarbonisation.”
Alweendo added, “Hyphen’s project is the first building block in realising Namibia’s ambitions to incubate a thriving synthetic fuels industry.”
The project recently secured a €5m ($5.4m) funding loan to be used for the partial funding of engineering, environmental and socio-economic work as it progresses towards final investment decision (FID).
Read more:Hyphen Hydrogen Energy secures €5m loan for Namibian green hydrogen project
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