Cop 27: European Bank eyes more H2 projects in Africa

The European Investment Bank (EIB) plans to invest in hydrogen projects in multiple African countries, in addition to those it plans in Namibia, it said at the UN Cop 27 climate summit.

The Namibia investments were "just an example of what we want to see in more countries in Africa," EIB global director of lending Maria Shaw-Barragan said. "From this we want to expand to other countries in the region and conversations are happening on that as well."

The EIB last week announced a €500mn loan to Namibia to help finance hydrogen projects and it signed partnerships for two projects in the country — with Hyphen for its 3GW capacity 300,000 t/yr facility and also with Hydrogen de France for its Swakopmund power plant.

By Aidan Lea