Source: Energy Capital & Power
Namibian green hydrogen development company, Hyphen Hydrogen Energy, and development finance institution, the Development Bank of Southern Africa (DBSA), announced plans to establish a funding vehicle to support the implementation of Namibia’s inaugural green hydrogen project.
The DBSA’s Project Preparation Facility will support works related to engineering, environmental and socioeconomic development activities for the two-million-ton per annum project in the preparation for the project’s Final Investment Decision.
“The finalization of this funding commitment demonstrates the belief of DBSA in the Hyphen project. We look forward to walking the journey with DBSA to financial close, where we hope that both these organizations will be significant providers of debt funding to the project,” commented Marco Raffinetti, CEO of Hyphen Hydrogen Energy.
Developed by Hyphen Hydrogen Energy, the project’s total cost is estimated at $10 billion. Over 15,000 jobs will be created during the construction stage while over 3,000 people are expected to be employed once the facility is fully operational.
Author: admin
Managing the Namibia Oil and Gas Platform