A brand new report by the European Funding Financial institution says Africa might make $1.1 trillion from the sale and use of inexperienced hydrogen.
It says harnessing Africa’s photo voltaic power to provide 50 million tons of inexperienced hydrogen a yr by 2035 may help safe world power provide, create jobs, decarbonize heavy business, and remodel entry to wash water and sustainable power.
The examine at the side of the Worldwide Photo voltaic Alliance and the African Union highlights the advantages of harnessing solar energy to create inexperienced hydrogen in 4 African hubs: Mauritania, Morocco, southern Africa and Egypt.
It’s the first detailed analysis on the possible growth of inexperienced hydrogen throughout the continent, based on the European Funding Financial institution.
Photo voltaic-powered inexperienced hydrogen is economically viable and may be produced at lower than EUR 2 per kilogramme, cheaper than conventional fossil gas power, says the “Africa’s Extraordinary Inexperienced Hydrogen Potential” report launched on Tuesday.
The report urges pioneer nations to mobilise non-public sector funding and to kind market-based partnerships wanted to allow mass-scale home and worldwide off-take and demand for inexperienced hydrogen.
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