The Development Bank of Namibia (DBN) and the Green Hydrogen Council (GHC) of Namibia have signed a five-year agreement to formalize a working arrangement aimed at advancing Namibia’s green industrialization efforts.
The partnership, according to the DBN and GHC, aligns with Namibia’s national focus on leveraging its world-class solar and wind resources to produce green hydrogen and green ammonia, driving sustainable economic growth and social development.
“This partnership signifies a bold step towards a sustainable and prosperous future for our country. By harnessing Namibia’s potential in green hydrogen energy and related solutions, we can drive Namibia’s green industrialization agenda and create a legacy of innovation and sustainability for current and future generations,” DBN CEO John Steytler said.
Key areas of cooperation under the agreement include jointly raising green funding, with a particular focus on securing grant funding for Namibian projects, developing and implementing a comprehensive agenda for Namibia’s green industrialization, and collaborating on the necessary capacity building to support green industrialization in Namibia.
“This MoU represents a shared commitment to harnessing Namibia’s vast renewable energy potential. We are charting a course towards a greener, more prosperous future, ensuring that Namibia remains at the forefront of sustainable development in our quest to attain Vision 2030 and beyond,” GHC Chairperson Obeth Kandjoze said.
Namibia is looking at leveraging its abundant renewable energy resources to provide a significant competitive advantage in the global green energy sector.
The MoU according to the DBN and GHC, represents a crucial step towards harnessing these resources to create sustainable economic opportunities and enhance the welfare of all Namibians.
The DBN is a public company established to contribute to economic growth and social development in Namibia. It promotes the welfare of Namibians by mobilizing financial and other resources from the private and public sectors, both nationally and internationally.
