RWE Exits Namibia 'Green Hydrogen' Project Amid Slower European Demand
Energy giant RWE has withdrawn from a planned 'green hydrogen' project in Namibia. The move comes as the demand for 'green ammonia' and its derivatives in Europe develops slower than expected, leading to the review and withdrawal from projects like this one.
RWE was set to receive up to 300,000 tons of 'green ammonia' from Namibia per year from 2027. However, the company has now cancelled these plans. The project, initiated by Hyphen Hydrogen Energy, is led by a joint venture between Nicholas Holdings Limited and Enertrag SE, with the Namibian government holding a 24% stake since December 2024. The main shareholder is Uckerwerk Energietechnik GmbH based in Germany. RWE initially planned involvement but has since pulled out.
The German government is not involved in the project and has provided no funding. The project is exclusively privately financed. In a climate-neutral economy, hydrogen is expected to play a central role, with Germany having to import a large part of it from abroad for use in various industries and sectors. Despite RWE's withdrawal, Hyphen Hydrogen Energy is not affected in the long term. The demand for 'green hydrogen' and its derivatives is expected to rise in Europe and Asia.
RWE's withdrawal from the 'green hydrogen' project in Namibia is a setback for the project but not a fatal blow. The project continues under the leadership of Hyphen Hydrogen Energy, with the Namibian government and other private investors still on board. The future of the project remains uncertain, but the potential for 'green hydrogen' and its derivatives in Europe and Asia is still promising.
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