The Namibian government and Hyphen Hydrogen Energy have signed the Feasibility and Implementation Agreement for the N$10 billion Green Hydrogen project.
The agreement was signed at State House by the respective parties.
The Feasibility and Implementation Agreement will serve as the governing document for the development, implementation, and operation of a green hydrogen project in the vicinity of the Tsau-||Khaeb National Park in the ||Kharas region.
As per the agreement, the Namibian government assumes responsibility for establishing the required legal, fiscal, and regulatory framework in the country to facilitate the successful execution of the project.
On the other hand, Hyphen is entrusted with the technical, financial, environmental, social, and commercial aspects of delivering the project.
The Feasibility and Implementation Agreement is split into five phases, of which the first is the preliminary phase, during which the government can exercise the option to acquire up to 24% of Hyphen's share capital.
The second phase, which is the feasibility one, is expected to see the government receive up to N$255 million from Hyphen over a lease of land.