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Africa could earn $1.1 trillion from the sale and use of green hydrogen, according to a new European Investment Bank report.
Harnessing Africa’s solar energy to produce 50 million tonnes of green hydrogen per year by 2035 will secure global energy supplies, create jobs, decarbonize heavy industry, and contribute to clean water and sustainability. can transform access to sustainable energy.
The study, in collaboration with the International Solar Alliance and the African Union, highlights the benefits of using solar power to generate green hydrogen in four African hubs: Mauritania, Morocco, Southern Africa and Egypt.
According to the European Investment Bank, this is the first detailed study of a continent-wide viable development of green hydrogen.
Solar-powered green hydrogen is economically viable and can be produced for less than 2 euros per kilogram, cheaper than conventional fossil fuel energy, according to the ‘Africa’s Exceptional Green Hydrogen Potential’, announced Tuesday. ‘ said the report.
The report urges pioneer countries to mobilize private sector investment and form the market-based partnerships needed to enable large-scale domestic and international take-off and demand for green hydrogen. .
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