Mauritania Hopes that European Countries will Contribute to Investing in the Field of Energy Transition
Berlin
Minister of Petroleum, Mines and Energy and Government Spokesman, Mr. Nani Ould Chrougha, said that the path of energy transition and the production of green hydrogen faces a major problem, which is the provision of sources of financing.
This came in a speech delivered during his participation in the activities of the international conference “Berlin Dialogue for Energy Transition” sponsored by the German federal government and jointly organized by several bodies, including the German Federation for Renewable Energy, the German Solar Energy Association and the German Energy Agency.
In this regard, he highlighted that industrialized countries are primarily responsible for emitting gases harmful to the environment and that they must contribute to providing the necessary sources of financing to secure the energy transition towards green energy sources, including green hydrogen.
He added that this problem was addressed during the recent visit of the President of the European Union to Mauritania, where, following these discussions, the Union expressed its readiness to establish a bank to finance green hydrogen projects, to contribute to encouraging investors wishing to launch projects in this field.
He stressed that Mauritania worked during the past year and the beginning of this year to develop a legal framework that allows investors to launch green hydrogen projects, where several consultative meetings were held with energy actors, which eventually enabled the conclusion of a hydrogen code that enjoys the approval of all, announcing that it will be adopted before the end of this year.
In response to a question about Mauritania’s capabilities, the minister enumerated the important advantages it enjoys compared to many countries, highlighting that all measures to protect investment have been taken and stressing the unique advantage of Mauritania, which is the abundance of minerals and the potential of green steel industries, adding that all these advantages combined made many major parties seek to establish energy partnerships with Mauritania.
The minister explained that several companies have signed memorandums of understanding with Mauritania to launch green hydrogen projects with a total capacity of about 85 gigawatts.