Namibia’s green hydrogen blended finance vehicle, SDG Namibia One Fund, has acquired a 24 percent stake in Hyphen Hydrogen Energy's $10 billion Tsau – Khaeb Green Hydrogen project. The fund, contributing 23 million euros ($25.1 million), aims to propel Namibia as a global leader in hydrogen production. The project, with planned capacities of 7 gigawatts (GW) of renewable energy and 3 GW of electrolyzer, targets an annual production of two million tons of green hydrogen, reducing Namibia’s carbon footprint by five to six million tons. The initiative anticipates economic growth, generating fifteen thousand jobs and three thousand permanent positions, supporting Namibia's 2050 net-zero targets.
The SDG Namibia One Fund, jointly managed by Climate Fund Managers, Invest International, and the Environmental Investment Fund of Namibia, plays a pivotal role in combining private and public sector financing to achieve Namibia’s green hydrogen strategy, aiming to raise $10 billion for optimal deployment of renewable energy projects.