Namibia Hydrogen Fund Managers gets N$19 million US grant

MOBILISING INVESTMENT … United States ambassador to Namibia Randy Berry and Namibia Hydrogen Fund Managers investment director Mercia Geises during the grant signing ceremony.

Namibia Hydrogen Fund Managers (Pty) Limited received a grant of N$19 million (US$1 million) to support the N$22 billion (US$1,15 billion) Sustainable Development Goals (SDG) Namibia One Fund.

This grant was given to Namibia Hydrogen Fund Managers (Pty) Limited by the United States (US) government, through the USAID Mobilising Investment project.

“In the global race to develop green hydrogen, Namibia is at the forefront. In fact, green hydrogen development is at the heart of the country’s Vision 2030. I applaud the government of Namibia for recognising that hydrogen presents the country with the unique opportunity to develop a low-carbon industry,” highlighted US ambassador to Namibia Randy Berry.

Launched at the United Nations Climate Change Conference (COP27) in November 2022, the SDG Namibia One Fund is Namibia’s dedicated green hydrogen finance vehicle and the designated funding partner to Namibia’s green hydrogen initiatives.

The fund will manage infrastructure projects for the production, transportation, transmission, storage and utilisation of green hydrogen and its derivatives, leading to a greener energy grid, job creation, less emissions and sustainable economic growth in Namibia.

“By catalysing an increased flow of private capital into the economy, the project hopes to help increase employment, decrease poverty and reduce inequality across the region,” a recent press statement noted.

The USAID Mobilising Investment project operates across 10 southern African countries: Angola, Botswana, Lesotho, Eswatini, South Africa, Madagascar, Malawi, Mozambique, Zambia and Namibia.

Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!

Latest News