Namibia’s government and Hyphen Hydrogen Energy have signed a $10 billion agreement to develop a green hydrogen project in a bid to become a global green hydrogen production hub.
The two entities have ;signed ;a feasibility and implementation agreement, Hyphen said in a statement published on 26 May.
The project targets production of 1 million tonnes a year of green ammonia by the end of 2027 and 2 million tonnes a year by the end of 2029.
In March, Hyphen Hydrogen Energy signed two memorandums of understanding (MOUs) with a major chemical company, name withheld, and South Korean hydrogen producer Approtium for a total annual offtake of up to 500,000 tonnes and 250,000 tonnes a year, respectively. ;
At full development, the project will produce 300,000 metric tonnes of green hydrogen annually from 5-6 gigawatts (GW) of renewables and 3GW electrolyser capacity.
Hyphen had previously stated that it is targeting the commencement of construction in January 2025, with commissioning of the first phase by the end of 2026.
(Writing by P Deol; Editing by Anoop Menon)