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Neill_58630 Jul 05

Powering Africa Summit - Financing and Deploying new Technologies - Green Hydrogen

Powering Africa Summit - Financing and Deploying new Technologies - Green Hydrogen image
On Thursday 1st July at the Powering Africa Summit, Boardroom Discussion - Financing and Deploying New Technologies - Green Hydrogen, key stakeholders discussed how ready Africa is for Green Hydrogen and how bankable are projects for commercial lenders.
In the race to decarbonise Africa’s energy mix, there is something of a ‘all hands on deck’ approach. There is a need to ignite the drive towards solar and wind usage as part of the ongoing renewables ambition; while there is also a need to solve the intermittency issue that still exists through reliance on just these two sources. Green hydrogen may well be the answer to both. 

It’s not necessarily cheap, and it’s not the easiest to transport. But what green hydrogen does offer is the potential to complete the renewables mix and fill in the gaps in an equally clean way. And it is also versatile as to how it's applied in the generation process – opening up to vehicle or equipment charging, or electricity storage as two additional examples.

In discussing where to go with this trend, the pressure is on finding a way to make its adoption and deployment more financially viable. 

“It’s why we’ve focused on optimising the renewable energy cost portion of green hydrogen projects,” explained Amine Berrada, VP Business Development and Co-Founder of Terabase Energy. “Our automating technologies, for example, address hybridisation; developing controls to balance systems relating to wind, solar, the electrolyser, and chemical production.” 

By controlling efficiencies through the engineering, construction and operating phases, it saves on costs throughout the lifecycle, making it more feasible to prospective investors.

Eyes are now being turned to those countries in Africa that are already ahead of the renewables game, including the likes of Kenya and Morocco – the latter within touching distance of huge export potential, adjacent to a very eager Europe.
Christopher Frank, Head of Strategic Business Development & Key Account Management Africa & Asia at Thyssenkrup, said: “Too often as humans we lose so much time discussing whether to do something, when really we should just start doing it.

“With green hydrogen, the mechanisms are in place, and the solutions are in place. They just need to be picked up by a level of entrepreneurship to spark investment. It’s already happening in countries like Saudi Arabia, and we can see it coming in Africa. But we must move with urgency.”