Dutch for-profit investment manager Climate Fund Managers (CFM) has completed the acquisition of a 24 per cent stake in Hyphen Hydrogen Energy through its SDG Namibia One fund, also known as Climate Investor Three (CI3) Namibia.
SDG Namibia One is a US$1 billion target blended finance fund managed by Nam-H2 Fund Managers, a joint venture between CFM and the Namibian Environmental Investment Fund and Invest International, to support the development of Namibia’s green hydrogen sector and its supporting infrastructure.
Hyphen, a joint venture between Nicholas Holdings Ltd and ENERTRAG SE, was appointed by the Namibian government as the preferred bidder to develop Namibia’s first green hydrogen project for export.
It is said to be the largest green hydrogen production project in sub-Saharan Africa. Upon completion, the project is expected to produce 2 million tonnes of green ammonia per year from approximately 7 GW of renewable energy generating capacity and approximately 3 GW of electrolyzer capacity, avoiding approximately 5-6 million tonnes of CO2 emissions per year.