Guest Contributor | Nov 14, 2022 | 0
Investment promotion board to showcase investment opportunities in oil, gas and green hydrogen at African Energy Week
The Namibian Investment Promotion Development Board (NIPDB) will be showcasing investment opportunities in the country’s oil, gas, and green hydrogen industries during the upcoming African Energy Week.
The conference and exhibition will be taking place from 18 to 21 October in Cape Town, to drive long-term energy investment in Africa for accellerated economic growth.
The NIPDB will be participating as a diamond sponsor at this year’s edition of the Energy Week conference.
Representing the nascent Namibian oil industry, the NIPDB’s presence and participation are crucial for shaping the dialogue around current investment trends as well as the challenges and opportunities in the undeveloped Namibian energy sector.
The discovery of sizable offshore oil and gas reserves has opened up significant opportunities across the entire energy value chain in Namibia.
For Namibia, the discoveries promise new pillars of economic growth from industries that have never before been present locally.
Another potential industry for foreign investment is so-called green hydrogen, which derives its name from the fact that the hydrogen, which requires massive amounts of energy, is manufactured using electricity from renewable sources, notably solar, wind and hydro-power.
Namibia’s future green hydrogen industry started with the announcement of a US$9.4 billion project by Hyphen Hydrogen Energy in the Tsau/Khaeb National Park although, being smack in the middle of one of the most arid deserts in the world, the water problem has not been solved. Manufacturing hydrogen requires impressive amounts of water, similar to the industry’s enormous energy requirements. There are also vague plans to develop green hydrogen plants in other regions.
The Investment Promotion Board has set itself the goal of driving the green hydrogen narrative, in an attempt to overcome the pervasive lack of knowledge by local hopefuls, to help foreign investors through their cumbersome due diligence processes.
With the Board set to host the third sovereign attempt at an investment conference, an Invest in Namibia side event will be conducted at African Energy Week.
“Namibia represents one of Africa’s biggest emerging energy markets, with sizeable investment and large-scale developments kicking off across the entire energy sector and value chain. On the oil and gas front, the country is witnessing newfound growth on the back of two historic discoveries made this year while on the green hydrogen front, Namibia-German investment partnerships lay the foundation for accelerated industry growth,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.
Under the theme, ‘Exploring and Investing in Africa’s Energy Future while Driving an Enabling Environment,’ Energy Week 2022 provides an ideal platform for the Investment Promotion Board to conduct high-level meetings and panel discussions to sell the opportunities captured in the massive investments required to fast-track Namibia’s envisaged eneregy boom.