The Path Towards Africa’s $1.5 Trillion Green Hydrogen Economy
A new study, titled, ‘Africa’s Extraordinary Green Hydrogen Potential,’ conducted by the European Investment Bank (EIB), International Solar Alliance and the African Union has revealed that Africa’s green hydrogen potential is approximately $1.5 trillion, and, if maximized through to 2035, has the potential to position the continent as a global clean energy hub. Supported by the government of Mauritania, Europe’s HyDeal and Morocco’s UCLG Africa, the study has identified three green hydrogen hotspots namely Mauritania and Morocco, Southern Africa and Egypt.
The study stipulates that exploiting the continent’s solar energy potential through the development of up to 1.2 GW of new generation capacity in the three-specific hubs could enable the production of up to 50 million tons (mt) of green hydrogen per annum by 2035 at a globally-competitive cost.
This would help improve global energy resilience, the decarbonization of heavy industries, the continent’s economic competitiveness and heightened gross domestic product (GDP) growth.
Photo courtesy of Lukas Bato.
Source: Energy Capital & Power (link opens in a new window)
- renewable energy, solar