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Europe’s second largest port Antwerp Bruges plans to develop a EUR 250 mn hydrogen and ammonia storage and export facility in Namibia’s Port of Walvis Bay, Bloomberg reported on Thursday. The facility will store and ship hydrogen and ammonia from companies to refuel passing ships and be used for heavy industry operations in Belgium, Germany, and other European countries. Completion is expected within three to five years and the project will be equally owned by the Port of Antwerp and the Namibian Port Authority. The facility’s operator has not been determined, but talks are being conducted with a unit of MSC Mediterranean Shipping Company.
REMEMBER- Namibia is an important asset to Europe: Namibia is expected to provide Europe with 750k tons of green fuel annually in addition to imports from Egypt, Oman, Morocco, Chile, and Norway.
The European Commission awarded EUR 720 mn to seven green hydrogen projects in Europe to help finance the production of green hydrogen in Europe, according to an official statement last week. This is the first competitive bidding process held under the European Hydrogen Bank with funds provided by revenues accrued by the EU Emissions Trading System. These projects will bridge the price gap between production costs and market prices in a bid to help Europe decarbonize industries such as steel, chemicals, maritime transport, and fertilizers.
More about the projects: The selected projects aim to produce 1.58 mn tons of renewable hydrogen over ten years, reducing more than 10 mn tons of CO2 emissions. They are located across Finland, Spain, Norway and Portugal and will receive between EUR 8 mn to EUR 245 mn. Individual grant agreements by November and selected projects must begin production within five years of signing the agreements.
