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Namibia’s future green hydrogen industrialization will require nearly $15 billion (N267 billion) for the construction of critical infrastructure, and another $40 billion (N713 billion) for investment in the green industry itself.
This is what the Namibian government and its green hydrogen initiative, led by James Mnyupe, stated in a document published online this week.
However, according to the Namibian Green Industrialization Blueprint, access to these funds depends on innovative financing methods and effective public-private partnerships.
The document envisages an estimated $15 billion (N274.9 billion) worth of infrastructure expansion, including rail and ports, including the South Port and North Port in Walvis Bay and the new Angra Port near Lüderitz. “An investment of $4 billion (N73.3 billion) is planned over the next five years, funded by public, private and development finance sources,” the document reads.
The billion dollar factory
The green hydrogen industrial plant near Lüderitz is expected to cost $10 billion (N183.2 billion), while investment spending in green manufacturing (electrolysis, wind turbines and solar panels, and flat glass factories) is expected to be $30 billion (N549.7 billion). The funding also includes a lithium refinery and lithium battery plant in Walvis Bay. This also includes the production of synthetic fuels, including aviation fuel “for export to Europe.”
“Namibia needs to significantly increase foreign direct investment (FDI), which currently stands at $6.3 billion (N115.4 billion), particularly in mining, tourism and agriculture. While bankable projects will attract funding, this would represent a five-fold increase in total FDI,” the report states.
Walvis Bay is most likely to become an important regional logistics hub. The container port will be expanded to become the new Southern Port. According to the blueprint, the port requires an investment of US$42.5 million (N778.8 million) for dredging and US$53 million (N971.2 million) for the new port upgrade.
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