Mizuho Financial: $13 billion in financing for technologies and production projects

Japanese financial giant looks to support early supply chain development

Mizuho Financial, one of Japan’s largest banks, has outlined its near-term investment strategy for the “production and supply of hydrogen and related technologies by 2030”. Mizuho is offering ¥2 trillion (about US$13 billion) worth of financing that will be committed to various projects and players globally.

To achieve this ambitious aim, we are focusing on three key areas: (1) Developing business strategies focused on hydrogen and related technologies, (2) Establishing a group-wide framework dedicated to supporting hydrogen and related technologies, and (3) Expanding our pool of personnel specialized in related areas. Going forward, we will further expand our initiatives to promote the construction of supply chains for hydrogen and related technologies.

From Mizuho Financial’s official press release, 16 May 2024

As part of this “group-wide” focus, various Mizuho subsidiaries are already engaged in ammonia initiatives, including:

• • strategic and financial advisory services for a large-scale green hydrogen/ammonia production project in Africa (Mizuho Securities)
  • arrangement of finance for a large-scale green hydrogen and ammonia production project outside Japan (Mizuho Bank)
  • granting transition loans for the green energy sector, including in the ammonia area (Mizuho Bank)

Ongoing ammonia initiatives in the Mizuho group, detailed in Mizuho Financial’s official press release, 16 May 2024

Within Japan, Mizuho activities are currently focused on technology R&D and subsequent deployment, infrastructure refits, helping shape government strategy, and the issuing of green and transition bonds as part of government schemes.

Africans MoUs already signed

Although Mizuho does not specify which African project received advisory services and finance, it did sign two hydrogen-related MoUs in August 2022: one with the Standard Bank of South Africa, and one with the Namibian Investment Promotion and Development Board.

Namibia especially is an early mover in Africa, with the planned Hyphen Hydrogen project having already secured multiple ammonia offtake agreements (shipping from Namibia to Korea and Germany). Earlier this month Namport, the Port of Antwerp-Bruges, and the Mediterranean Shipping Company also began discussions for a $270 million hydrogen and ammonia export terminal in Walvis Bay. In South Africa, Hive Energy’s Coega project is one of several in development, and a ship-to-ship ammonia transfer recently took place at the Port of Ngqura.