European Investment Bank backing to support HDF Energy develop first green hydrogen power plant in Swakopmund
French outfit, HDF a global pioneer in hydrogen power plants has reached a further step in the development of a green hydrogen power plant in Swakopmund, by formalizing its partnership with the European Investment Bank (EIB) at the 2022 United Nations Climate Change Conference of the Parties (COP27).
The new green hydrogen cooperation was announced at the Namibian pavilion COP 27 by Dr. Hage
Geingob, Dr. Werner Hoyer, President of the European Investment Bank, Ursula von der Leyen, President of the European Commission.
“This partnership represents a concrete step in delivering Namibia’s clean energy ambition. This new
the investment demonstrates Namibia’s leadership in green hydrogen.” said Geingob.
“I would like to thank the European Investment Bank for its continuous support of the development in
Swakopmund. The signature today is a key step of our longstanding engagement with the EIB for the
project, which takes us closer to reaching financial close in 2023 and starting construction of the first large-scale green hydrogen project in Africa,” said Nicolas Lecomte, HDF’s Director for Southern and East Africa.
“The European Investment Bank works with leading partners to support clean energy investment across Africa. I am pleased that the EIB is working closely with HDF Energy to harness Namibia’s solar and wind potential and unlock opportunities for the energy transition. Our agreement confirmed at COP27 today HDF will help to accelerate large-scale deployment of green hydrogen infrastructure in Namibia based on proven investment in South America,” said Werner Hoyer, President of the European Investment Bank.
The agreement was signed by Maria Shaw-Barragan, EIB Director of lending in Africa, the Caribbean, the Pacific,
Asia and Latin America and Nicolas Lecomte, HDF’s Director for Southern and East Africa, and witnessed by Lipumbu Shiimi, Finance Minister.
The new agreement between HDF Energy and the European Investment Bank was unveiled alongside the announcement of a new sovereign loan facility of EURO 500 million by Ursula von der Leyen, President of the European Commission and Geingob to develop the green hydrogen sector in the country.
HDF Energy is developing a green hydrogen power plant in Swakopmund, Erongo region.
Once operational, the project will enhance local clean electricity generation, 24 hours a day, 7 days a week, and grid supporting services, directly contributing to the security of electricity supply in Namibia.