The European Union (EU) signed a memorandum of understanding (MoU) with H.E. Hage Geingob, President of Namibia, that will see the two parties form a strategic partnership in the fields of green energy.
Signed on the sidelines of COP27 in Egypt last week, the MoU aims to scale up the development of a raw material supply chain as well as renewable hydrogen to support the energy transition across each parties’ economies.
As per the terms of the MoU, the partnership will see the EU and Namibia cooperate on six primary areas.
These include the integration of raw materials and renewable hydrogen value chains; cooperation with the aim of leveraging environmental, social and governance criteria that aligns with global standards; the mobilization of funding for the development of both soft and hard infrastructure associated with project developments as well as for the private sector; capacity building and skills development across the entire value chain; cooperation on research and development across the entire value chain; and finally, cooperation regarding regulatory alignment, standards and certification.
What’s more, the partnership will promote local value addition, support the development of the mining and renewable hydrogen value chains while facilitating investment into Namibia’s economy, all while deepening current cooperation between the two parties.
“I am so glad to sign this agreement between the EU and Namibia for the development of raw materials value chains and renewable hydrogen,” stated von der Leyen, President of the Commission, adding that, “This is not only a huge step forward for the EU’s climate ambitions but also an agreement beneficial to Namibia, a front-runner in the development of renewable hydrogen in Africa. It shows Europe’s commitment to work with partner countries on our shared commitments to a greener and more resilient future.”
Following the signing of the MoU, the EU and Namibia have agreed to create an operational Roadmap for 2023-2024, with an actionable agenda put in place within six months of the signing.
The strategic partnership serves to enhance Namibia’s burgeoning hydrogen sector even further while strengthening EU-Namibia relations.