Green hydrogen developer Hyphen is making progress on its discussions with the Namibian Government in relation to a 3GW electrolyser project in the southern African country.
Hyphen said that is expects to sign an implementation agreement (IA) before the end of the year for its planned $10bn green hydrogen project, which also encompasses 5-6GW of renewable energy generation to drive the electrolyser.
At the World Economic Forum in May this year, Hyphen laid out a timeline to realise the project.
Hyphen and Government are targeting construction to start in January 2025, with commissioning of the first phase by the end of 2026.
During the Namibian Government’s Cabinet meeting on 12 June 2022, the cabinet endorsed the composition and appointment of the Government negotiations team assembled to finalise the IA as well as the proposed timeline of its signature.
The signing of the IA will trigger the commencement of the front-end engineering and design phase of the green hydrogen project.
Hyphen has also recruited Boston Consulting Group and Lazard as its international strategic and financial advisors respectively.
Hyphen and its broader advisory team are working closely with the Government and its advisors to ensure that Namibia’s potential as one of the top three locations in the world for green hydrogen production is realised.
The developer has also appointed five Namibian nationals, including Toni Beukes the new Environment, Sustainability and Governance Leader, who will ensure project is equitable.
Hyphen has leased space in Nedbank’s newly completed flagship Courtside office development in the centre of Windhoek, to house its growing team with occupation set for early October.
At full scale development, the project is expected to produce 350,000 tonnes of green hydrogen a year for regional and global markets.
Marco Raffinetti, CEO of Hyphen Hydrogen Energy, said: “We’re very pleased at the commitment and rapid pace of progress that the Namibian Government has shown as we move towards concluding the Implementation Agreement to enable us to start the next phase of the project.
“It demonstrates the Government’s belief in Hyphen’s vision and capability to execute this ambitious and transformative project.”