Germany Plans More Support for $11 Billion Namibia Hydrogen Plan
03.21.2024 By Tank Terminals - NEWS

March 21, 2024 [Yahoo]- Germany aims to designate an ambitious green hydrogen project in Namibia as strategically significant, paving the way for additional financial support and bringing a plan that could transform the economy of the African nation closer to reality.

 

Enertrag SE, which holds a stake in the €10 billion ($10.8 billion) Hyphen project on the south coast of Namibia, said on Wednesday the German government had presented it with a letter spelling out its intentions.

“We are therefore prepared to categorize it as a foreign project, under certain conditions, in the strategic interest of the Federal Republic of Germany and thus provide more support than usual through our foreign trade promotion instruments,” Robert Habeck, Germany’s economy minister, said in the statement distributed by Enertrag.

Germany, the Netherlands and Belgium have been courting the largely desert nation of Namibia for its potential to produce green hydrogen, seen as a future carbon-free fuel, from its abundant solar and wind resources. Green hydrogen, which can be used to fuel ships and industry among other things, is produced by splitting water into hydrogen and oxygen using renewable energy.

Should the project come to fruition it could diversify Europe’s energy sources while boosting the economy of the nation of 2.5 million people, which currently depends on tourism, diamonds and fishing.

Still, production costs will need to fall before the fuel is competitive.

“This opens up completely new economic prospects for the African country and contributes to the development of an international hydrogen market,” Habeck said in a separate statement released at the Berlin Energy Transition Dialogue.

Hyphen plans to generate the fuel and then turn it into ammonia so that it can be transported to Germany.

 

Free Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Oman Signs 10-Year LNG Supply Deal with Shell
04.17.2024 - NEWS
April 17, 2024 [Microsoft Start]- Oman LNG has signed a 10-year liquefied natural gas supply agre... Read More
Neuman & Esser to Build Green Hydrogen Plant in Chile
04.17.2024 - NEWS
April 17, 2024 [Gas Compression Magazine]- Neuman & Esser was awarded a contract from Empresa... Read More
Engie Buys Two Dutch Biogas Sites, Hunts for More
04.17.2024 - NEWS
April 17, 2024 [Reuters]- French energy company Engie (ENGIE.PA), opens new tab has acquired tw... Read More
Shell Named NanoVapor as Best Technology to Make a Tank Safe
04.17.2024 - NEWS
April 17, 2024 [Storage Terminals Magazine]- Shell Retail Engineering Network has recently implem... Read More