Major green energy company Fortescue Future Industries is proposing a joint venture with the Namibian government to produce electrolysers for green hydrogen.
President Hage Geingob was paid a courtesy call by the CEO of Fortescue Future Industries (FFI), Mark Hutchinson, at State House on Friday.
In recognising the potential of green hydrogen in terms of addressing youth unemployment, Geingob stressed the importance of investing and creating job opportunities.
“We have the resources, but you bring in the money and the jobs. It’s a win-win situation. Let us go ahead and create jobs,” said the president.
Hutchinson commended Geingob for having a great team around green hydrogen, and emphasised the vital role green hydrogen plays in addressing the global climate challenges.
In addition, Hutchinson informed the president about the FFI’s proposal for a 50/50 green hydrogen and green ammonia deal, as the world shifts away from fossil fuels.
Electrolysers are apparatus that produce hydrogen through a chemical process, and Namibia would need them in light of its plan to produce green hydrogen.
In terms of the proposal, FFI says the joint venture model would be on a 50/50 basis.
The Green Hydrogen Council of Namibia has already done an expert analysis of the proposal, and is expected to pronounce itself after its meeting next week.
Fortescue Future Industries is one of the companies which submitted a bid to develop green hydrogen around the Tsau-||Khaeb National Park, but lost out to Hyphen Hydrogen Energy.
It operates renewable energy, green hydrogen and green ammonia projects in more than 20 countries.
Emphasising the vital role green hydrogen plays in addressing global climate challenges, Hutchinson said, “Namibia is going to play an important part in renewable energy. Europe needs what you have. You have the ability to supply the major industrial places around the world”.
President Geingob recognised the potential of green hydrogen in terms of addressing youth unemployment.
Namibia’s green hydrogen commissioner James Mnyupe said “for us to receive an unsolicited offer is not normal. But this one is unique because they are offering to not just manufacture electrolysers in Namibia, but to bring iron ore from Gabon and Australia, potentially, into Namibia to then take the hydrogen from Namibia, to make a new product, essentially called pig iron, which is an essential component of steel manufacturing.