The State of the Nation Address by President Hage Geingob provided an update on the green economy projects in the country.
Namibia has pioneered a billion-dollar green hydrogen valley concept in sub-Saharan Africa, attracting in the process, over N$1.5 billion in grant funding.Around 93 Namibians will receive scholarships worth more than N$34 million pursue their Masters and TVET studies in areas related to the Synthetic Fuels industry.
The President outlined that of the four pilot projects earmarked to receive more than N$500 million in grant funding to develop their concepts, more than N$120 million has been allocated to the Daures Project, of which N$37 million has been drawn down.
Project construction will commence this year. The Hyphen project in the //Kharas region will commence with a feasibility study and it is expected construction of at least three other green hydrogen projects in the Erongo region to begin in 2023.
This year the Ministries of Mines and Energy, and Industrialization and Trade, will conduct feasibility studies to explore the possibility of using low-cost renewable energy from the envisaged hydrogen industry, with the objective of creating a green manufacturing hub anchored by gigawatt installations 1000 Mega Watts.
The government intends to investigate the possibility of using the industrial parks in Walvis Bay to accommodate these green industrial projects.
Geingob outlined that given Namibia’s abundant critical mineral deposits that are needed for the energy transition, such as lithium and rare earths, the government will explore the possibility of using this low-cost green energy to add value to raw materials.
The government also intends to use the country’s abundant renewable energy as a means of establishing local industry will require the right mix of incentives and an attractive investment ecosystem.
The Ministry of Finance, the Namibia Investment Promotion and Development Board and the Ministry of Industrialization and Trade will finalise the ‘Impactful Investments Incentive Scheme’ before the end of this year.
Geingob said this scheme is critical to diversifying of the economy, unlocking more private sector investments and creating gainful employment opportunities.
The Namibia Investment Promotion & Development Board is working with the Ministry of Home Affairs to formulate a targeted Golden VISA programme to incentivise and attract investors with skills, capital and ambitions to set up businesses and residency in Namibia.
On 14 April, Geingob officially opened the Green Hydrogen Stakeholder Consultation meeting in Lüderitz.
Geingob emphasised that the Green Hydrogen Project is a significant project that should be inclusive and benefit the residents of ||Kharas.
“These projects are about communities and I am pleased with the enthusiasm in the region about the transformational potential of GreenHydrogen, Geingob said.
