A new study conducted by the European Investment Bank (www.EIB.org),in partnership with the International Solar Alliance and the African Union  into Africa’s green hydrogen potential has been made public.

The study conducted with the support of the Government of Mauritania, HyDeal and UCLG Africa; Analysis highlights benefits of harnessing solar power to create green hydrogen in four African hubs: Mauritania, Morocco, southern Africa and Egypt; Green hydrogen is economically viable at EUR 2/kg and can accelerate low-carbon economic growth across continent and reduce emissions by 40%; Africa can secure access to clean and sustainable energy on the continent and become a global energy player through green hydrogen exports

Harnessing Africa’s solar energy to produce 50 million tons of green hydrogen a year by 2035 can help secure global energy supply, create jobs, decarbonize heavy industry, enhance global competitiveness and transform access to clean water and sustainable energy. The analysis has been commissioned by the European Investment Bank, the International Solar Alliance and the African Union, with the support of the Government of Mauritania, HyDeal and UCLG Africa,

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The “Africa’s Extraordinary Green Hydrogen Potential” report represents the first detailed research of the feasible development of green hydrogen across the continent. The new stufy combines analysis of investment opportunities focusing on three hubs: Mauritania – Morocco, southern Africa and Egypt with a roadmap of technical, economic, environmental and financial solutions to unlock commercial development.

Africa’s has the best solar energy in the world and transforming solar power into green hydrogen can strengthen energy security, cut emissions and pollution and decarbonise industry and transport. The European Investment Bank is working with partners across Africa and around the world to harness its renewable energy potential to produce low-cost green hydrogen at scale. The Africa’s Extraordinary Green Hydrogen Potential report shows concrete opportunities to transform access to green energy and clean water across the continent and beyond.” said Abdessalam Ould Mohamed Salah, Minister of Energy of the Republic of Mauritania,

“Africa has the best renewable energy in the world and scaling up production of green hydrogen can transform access to low-cost electricity and clean water. Unlocking Africa’s green hydrogen potential will require close cooperation between public, private and financial partners. The new “Africa’s Extraordinary Green Hydrogen Potential” study outlines what can be achieved and what needs to be done. The European Investment Bank is pleased to work with African and international partners to enable large scale green hydrogen to become a reality.” said Ambroise Fayolle, Vice President of the European Investment Bank.

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Solar photovoltaic technology has provided us with the cheapest electricity. It will cost below €2 per kg in several African countries by 2030, much lower than the current mass assumption of €5 and a stark contrast to the $60-70 paid for an oil barrel. Thanks to this low-cost electricity and decreasing electrolyser costs, the next step is providing access to a clean fuel, cheaper than all the current fossil fuels. It will enable us to decarbonise the power sector and most hard-to-abate sectors – fertilisers, steel manufacturing, and refineries.” said Dr Ajay Mathur, Director General, International Solar Alliance.

“As the global energy and climate crises unfold, mass-scale competitive green hydrogen is ready to provide energy security, affordability and decarbonization. Integrated hydrogen hubs bringing together upstream, midstream and upstream players on the basis of long-term off-take contracts are building powerful business models. Pioneering African countries such as Mauritania are showing the way, proving that Africa can help the world with green hydrogen – ensuring for itself a future of industrial development, fast and clean growth for all” says Thierry Lepercq, President of HyDeal.

The study was previewed at the Mauritania Pavilion at COP 27 in Sharm el Sheikh by Abdessalam Ould Mohamed Salah, Minister of Energy of the Republic of Mauritania, Ambroise Fayolle, Vice President of the European Investment Bank, Dr Ajay Mathur, Director General, International Solar Alliance, Jean-Pierre Elong Mbassi, Secretary General of UCLG Africa and Hakima el Haité former Minister of Environment of Morocco and Thierry Lepercq, President of HyDeal.  Government leaders, ministers, international finance, business partners and civil society from across Africa attended the unveiling event.

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The report was formally handed over to partners on December 20^{th 2022.}

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry