EIB study highlights Africa’s green hydrogen potential

A new study has said that harnessing Africa’s solar energy to produce 50 million tonnes of green hydrogen per year by 2035 can help secure global energy supply, create jobs, decarbonise heavy industry, and transform access to clean water and sustainable energy.

Commissioned by the European Investment Bank (EIB), the International Solar Alliance, and the Africa Union, supported by the Government of Mauritania, HyDeal, and UCLG Africa, the report concluded that green hydrogen is economically viable at €2/kg ($2.13/kg) and can accelerate low-carbon economic growth across the continent and reduce emissions by 40%.

The Africa’s Extraordinary Green Hydrogen Potential  report, carried out by CVA outlined how the production and transmission of green hydrogen can lead to a €1 trillion ($1.06 trillion) investment, yielding more than one third of Africa’s Current energy consumption, boost gross domestic product (GDP), improve clean water supply, and empower communities.

It has estimated that green hydrogen investments could reduce carbon emissions on the continent by 40%, replacing approximately 500 million tonnes of carbon dioxide a year.

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