Namibia Hydrogen Fund Managers (Nam-H2) has received N$19 million (US$1 million) from the USAid Southern Africa Mobilising Investment project.
The Nam-H2 is a subsidiary of the Namibia Green Hydrogen Project.
A statement issued by the Green Hydrogen Commissioner James Mnyupe said the US$1 million will bolster the SDG Namibia One Fund’s activities.
The Climate Fund Managers and the Environmental Investment Fund of Namibia manage the SDG Namibia One Fund, whose aim is to catalyse green energy, water access, job creation, emission reduction, and sustainable economic growth.
Mnyupe says this historic grant is the largest awarded outside South Africa.
Mnyupe also said the Africa Climate Foundation (ACF) has formalised its commitment to the Namibian Green Hydrogen Programme through a signed Memorandum of Understanding (MoU) with the Environmental Investment Fund (EIF).
The MoU outlines ACF’s support, including financial assistance and technical expertise, to aid the Programme in fulfilling its mandate and implementing policy interventions.
As the first African-led climate change re-granting organisation, ACF, established in 2020, focuses on grant-making, research, technical assistance, and advocacy to promote low-carbon transitions and enhance resilience in climate-vulnerable sectors.
Notably, ACF had previously assisted in establishing the Namibian Green Hydrogen Programme and played a pivotal role in crafting its strategy during negotiations with Hyphen Hydrogen.
The Hyphen Hydrogen is finalising pre-feasibility assessments and initiating the formal feasibility study phase in March 2024.
Hyphen Hydrogen will also engage the International Finance Corporation and local stakeholders as part of its commitment to socio-environmental responsibility.
