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Home Business & Economy

CMB sees N$70 billion investment in Namibia’s green hydrogen

by editor
May 3, 2024
in Business & Economy
354
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Belgian shipping company, Compagnie Maritime Belge (CMB) says it expects green hydrogen production in Namibia to start in the fourth quarter, a project that could see N$70 billion (US$3.5 billion) in investment over the next five years.

CMB’s CEO Alexander Saverys said the initiative is a joint venture with the Ohlthaver & List Group. The initial phase of the project involves a 5-megawatt solar plant that will produce 400 kilogrammes of hydrogen daily, with construction costs estimated at N$590 million (€30 million).

“We are doing this because we believe decarbonisation and a shift to renewable energy are important trends in the global economy,” Saverys said.

“We need to reduce greenhouse gas emissions, but industries that are difficult to reduce, such as maritime industries, ports and mining, cannot switch to electricity or batteries. Instead of electrons, they need molecules. We plan to produce these molecules in Walvis Bay to power locally operated trucks, port equipment, locomotives and small ships.”

He further explained that the project, dubbed Cleanergy, will be expanded in the future, with the construction of an ammonia terminal at Walvis Bay port.

Additionally, plans are underway for a massive 250,000-tonne-per-year ammonia plant powered by solar energy at Arandis. These additional stages will push the total project cost to N$70 billion (€3.5 billion).

Upon completion, the project will enable CMB to refuel large ships docking at Walvis Bay, a strategic location on the route around southern Africa.

This hydrogen can then be converted into ammonia at Arandis, facilitating easier transportation and used in powering larger ships and heavy industries.

“In addition, the port of Walvis Bay will also be in a unique position in Africa: our project will enable them to offer low-carbon logistics supply chains to their customers. This will pave the way for attracting additional logistics flows and investors,” Saverys added.

Furthermore, Cleanergy, CMB.TECH, Port of Antwerp Bruges and Namport are set to collaborate to launch the first hydrogen-powered ship in Africa.

This project follows the successful launch of the Hydrotug and the world’s first multimodal hydrogen refuelling station in the port of Antwerp through the collaboration between CMB.TECH and Port of Antwerp Bruges.

The new vessel will be a Multifunctional Port Utility Vessel (MPHUV) powered by dual-fuel hydrogen engines, designed to be versatile for various port operations and significantly reduce greenhouse gas emissions.

CMB, founded in 1895 and controlled by the Saverys family, will be venturing outside Belgium for the first time with this project. Their existing facility in Belgium is much smaller compared to the undertaking in Namibia.

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