Masdar, the Abu Dhabi Future Energy Company, is looking into investing in Namibia’s emerging green hydrogen sector.
During the recent Accelerated Partnership for Renewables Africa summit in Nairobi, Martin Nagell, an advisor for Masdar, mentioned that a team is currently evaluating opportunities in Namibia’s green hydrogen market. Although Masdar has yet to establish a presence in Namibia, its interest indicates a potential future partnership.
Masdar aims to significantly contribute to Africa’s energy transformation by developing 10GW of capacity over the next seven years in six sub-Saharan African countries. This initiative ties into its broader mission to enhance Africa’s energy accessibility and transition to renewable energy sources. The company has already established agreements in Zambia, Uganda, and Angola to develop projects in solar, wind, and hydroelectric power.
According to Nagell, renewable energy, particularly solar power, is economically advantageous. Solar energy, being the least expensive energy source, can greatly reduce governmental expenses if widely adopted. Masdar operates through partnerships with governments to adapt conditions that foster project success and provide affordable electricity.
Despite Africa’s vast renewable resources, the continent still experiences energy access challenges due to limited investment. A report by the International Renewable Energy Agency highlights that Africa receives less than 2% of global renewable energy investments, leading to an ongoing energy deficit.
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