(Opinion) Africa is quickly rising as a key player in renewable energy, and the buzz is all about green hydrogen.
A recent report from The African Energy Chamber confirms this trend. It says green hydrogen capacity has even surpassed solar.
Enter AGHA, a group of African countries. They aim to produce 30 to 60 million tons of green hydrogen each year by 2050.
Achieving this could bring in $126 billion and create four million jobs.
So why is hydrogen the talk of the town?
It’s a clean fuel when made with renewables. Moreover, Africa is rich in solar and wind energy, perfect for hydrogen production.
A study by Deloitte backs this up. It reveals Africa could produce this fuel more cheaply than Europe.
The report also notes that solar and wind could make up 75% of Africa’s total renewable capacity by the 2030s.
Interestingly, Africa’s lack of industrial development could be a benefit. The continent has the chance to skip past outdated technologies.
Several projects are already underway. Examples include Mauritania’s AMAN project, Namibia’s Tsau Khaeb project, and South Africa’s green ammonia plant.
These projects offer jobs and training opportunities.
Investors are taking notice. Reports suggest that green hydrogen could be both profitable and good for the planet.
Deloitte’s future outlook is promising.
The predict that 2050 hydrogen export revenues could hit $110 billion. North Africa could be among the world’s top hydrogen producers.
In conclusion, Africa’s green hydrogen sector isn’t just a win for the planet. It’s a solid investment opportunity too.
As Bitsat Yohannes from the United Nations points out, the focus isn’t just on reducing carbon emissions.
It’s also about fueling sustainable development. So, for those looking to invest, now is the time.