Africa To Produce Green H2
Africa has been called upon by the European Investment Bank (EIB) to harness the abundant solar energy resources to produce green H2 (Hydrogen). This is a goldmine of a market. Clean H2 is the next big thing globally and will help to reduce emissions significantly. The market is a $1 trillion untapped market.
Africa is a huge continent and produces very little CO2 in comparison to elsewhere, however there are a lot of issues that they face due to climate change. If Africa is able to produce 50 million tonnes of green H2 by 2035 they could potentially alleviate the majority of the risks they currently face according to EIB. The mass production of this clean hydrogen could alleviate the global energy crisis, create jobs and reduce the speed of climate change.
The International Solar Alliance and the African Union partnered with the EIB to perform a study on “Africa’s Extraordinary Green Hydrogen Potential.” They believe that green hydrogen investments could reduce carbon emissions in Africa by 40 percent, replacing 500 million tonnes of CO2 annually.
As well as ensuring there is access to sustainable green energy, Africa can become a green hydrogen powerhouse. Africa alone has the ability to generate 25 million tonnes of the clean energy to global energy markets. This is equivalent to 15 percent of the total gas consumption used in the European Union.
Shipping is a highly energy consuming process. Annually 940 million tonnes of CO2 annually, which is 2.5% of global GHG. With the green H2 produced by Africa, this will go some way to impacting the effects global shipping has on the environment. Ocean freight shipping is the main way for produce to be shipped from point A to point B. It is empirical that we establish eco-friendly shipping as soon as possible. Green Hydrogen power from Africa would be a great starting point.
If Africa goes ahead with the idea of generating green H2 this would help to improve the living standards of millions throughout Africa. The process of generating clean hydrogen would be able to create and supply clean water in areas regularly impacted by drought.
For this type of project to take place the EIB study states that governments will have to put plans and regulations in place to mobilize private sector investments. They must also invest in pilot projects to show successful green hydrogen generation, storage, distribution and use.