Under the FIA the preliminary phase of the project will last for approximately six months, allowing the country to exercise its option to acquire up to 24% in interest in the project.
Following this, Hyphen Hydrogen Energy will lead a two-year feasibility phase, which will be succeeded by a 120-day government validation phase. The Project is expected to reach its full phase output before 2030.
Hyphen Hydrogen Energy will raise funding for the project, lead its construction, and take responsibility over its operation and maintenance. The green energy supplier will also be responsible for the technical, financial, environmental, social and commercial delivery of the project.
Poised to decarbonize Namibia’s electrical grid and lead the country towards energy independence, the green hydrogen project is expected to make the southern African country a net exporter of low-carbon energy. The project is expected to create up to 15,000 new jobs during its construction phase and 3,000 permanent jobs during operation.