Browsing: green hydrogen investment.

  • An increasing number of investors across the globe are angling for a pie of Africa’s $1 trillion hydrogen supply potential.
  • By 2050, analysts project that green hydrogen could increase the GDP of six African countries including Egypt, Namibia, Mauritania, Morocco, and South Africa by $126 billion.
  • In 2021, the government of Namibia announced the rollout of a green hydrogen project worth an estimated $9.4 billion.

Africa has experienced several energy transitions throughout the past few decades, from coal-powered energy to the massive adoption of electricity that still powers many industries today.

But as the continent enters a new age of renewable energy, Africa’s steady adoption of green hydrogen, a new offering in renewable energy mix has the potential to accelerate the continent’s move into energy independence.

Currently, Africa’s hydrogen supply is estimated at $1 trillion industry and an increasing number of organizations have flooded the market, trying to gain a

Six African nations launch the Africa Green Hydrogen Alliance.
  • EIB Vice President confirms EIB support for green hydrogen engagement with President Ruto
  • New agreement to develop and unlock investment to produce green hydrogen using renewable energy
  • EIB and Kenya to identify potential green hydrogen investment projects

The European Investment Bank (EIB) has committed to support and strengthen green hydrogen investment in Kenya.

Thomas Östros, European Investment Bank Vice President and Professor Njuguna Ndung’u, Cabinet Secretary, National Treasury and Economic Planning signed the Joint Declaration on Renewable Clean Hydrogen following discussions on green hydrogen investment with Kenya’s President  William Ruto.

“Kenya has some of the best renewable energy sources in the world if the storage components were equally developed. The route to storage has the potential to develop green hydrogen to deliver sustainable, green and inclusive growth. Today’s agreement builds on decades of close cooperation with the European Investment Bank to support renewable energy across Kenya. Together we will develop …