Abu Dhabi considers investing in local green hydrogen

The Abu Dhabi Future Energy Company (Masdar) is currently assessing Namibia’s green hydrogen industry for potential investment.

Speaking to The Namibian during the recent Accelerated Partnership for Renewables Africa summit in Nairobi, Kenya, Martin Nagell, a Masdar adviser, said a team is currently assessing the local green hydrogen industry.

“We currently do not have a footprint in Namibia, however, a team that is assessing the green hydrogen industry,” he said.

Masdar, during the 28th Conference of the Parties, said it plans to develop 10GW of installed capacity over the next seven years in six sub-Saharan African countries, and to play a part in Africa’s electrification and energy transition.

Last year, the company entered into agreements with Zambia, Uganda and Angola to develop renewable energy projects in solar, wind and hydroelectricity.

Nagell says the cost of renewable energy is much lower than non-renewable energy.

“Solar power is the cheapest source of energy, therefore, it will save the government a lot of money if widely used.

The expensive electricity they have is affecting the competitiveness of the industry and the ability of the consumer to buy electricity,” he says.

Masdar operates as a government-to-government partnership.

Nagell says many conditions have prevented Africa’s energy projects from getting off the ground, and Masdar works with governments to enable these projects.

“… to try to create conditions that will enable these projects and allow low-cost electricity,” he says.

A report by the International Renewable Energy Agency shows that Africa receives the smallest share of investment in renewable energy.

“Despite having abundant renewable resources, the continent faces a significant energy access deficit.

“Insufficient investment compounds this issue, with the continent receiving less than 2% of global investments in renewables over the last two decades,” the report reads.