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Namibia is working on the development of carbon-neutral maritime value chains, including the production, transportation, storage, and consumption of clean fuels and carbon-free products made in the country. As part of this initiative Compagnie Maritime Belge (CMB-Tech), a Belgian shipping company, plans to build a clean ammonia bunkering facility at Walvis Bay. The total anticipated cost of the project is more than €2.2 billion and executed in partnership with the Ohlthaver & List Group.
Namibia is working on the development of carbon-neutral maritime value chains, including the production, transportation, storage, and consumption of clean fuels and carbon-free products made in the country. As part of this initiative Compagnie Maritime Belge (CMB-Tech), a Belgian shipping company, plans to build a clean ammonia bunkering facility at Walvis Bay. The total anticipated cost of the project is more than €2.2 billion and executed in partnership with the Ohlthaver & List Group.
A green shipping corridor is being developed with Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping as Namibia looks to map and fund the development of carbon-neutral maritime value chains, including production, transportation, storage, and consumption of the clean fuels and carbon-free products which is made in the country and traded with the world. Developing a new synthetic fuels industry in Namibia is not just an opportunity to fight climate change but offers an unparalleled opportunity for green industrialization.
Namibia has now attracted new industries that are looking to make use of the cheap clean electricity and molecules produced in Namibia. One such pioneering example is the Oshivela project by HyIron, which plans to use Namibian-produced green hydrogen to deliver the first industrial production of iron at net-zero emissions, stated Namibian President Hage Geingob.
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Geingob revealed that Namibia has projects under development, looking to deploy over US$20 billion to develop large-scale green hydrogen projects that would provide the world with clean molecules needed to decarbonize hard-to-abate sectors. The country has more than five such projects under development, looking to deploy more than 20 billion US dollars to develop our world-class renewable energy potential to give our future generations a fighting chance against a warming planet.
The Oshivela project, scheduled to commence in late 2024, is one of the first industrial production of iron with net-zero emissions, based on HyIron technology, and is set to be established in Namibia with an initial investment of N$600 million. The project aims to achieve an annual output of 15,000 tonnes of Direct Reduced Iron (DRI) in its initial phase, generating approximately 60 employment opportunities.
