Namibia's SDG Namibia One Fund, the dedicated green hydrogen blended finance vehicle, has finalized a share subscription agreement to acquire a 24% stake in the USD 10 billion Hyphen green hydrogen project. The fund's equity subscription is complemented by an initial development finance injection of EUR 23 million for the ambitious project.
This agreement follows the Namibian government's decision in June to exercise its right to a 24% ownership interest in the Hyphen green hydrogen hub, developed by Hyphen Hydrogen Energy Ltd—a venture jointly owned by Enertrag and Nicholas Holdings Ltd.
As the designated funding partner for Namibia's green hydrogen initiatives, SDG Namibia One Fund aims to raise USD 1 billion from public and private investors, both domestically and globally. The fund is collaboratively managed by Climate Fund Managers (CFM), Dutch development financing institution Invest International, and the Environmental Investment Fund of Namibia (EIF).
Hyphen's flagship project envisions the installation of approximately 3 gigawatts (GW) of electrolysis capacity, powered by electricity generated from around 7 GW of renewables, predominantly sourced from wind and solar.
The expansive complex, situated in the Tsau //Khaeb National Park, is poised to produce one million tonnes of green ammonia annually by 2027. The project's output is slated to escalate to 2 million tonnes per year by 2029, with plans to supply regional and global markets.