KEY POINTS
- O&L Group divests its stake in Cleanergy Solutions Namibia to Belgium’s CMB.TECH subsidiary, H2Infra NV.
- The deal strengthens Namibia’s green hydrogen ambitions and awaits regulatory approval.
- Cleanergy’s Walvis Bay facility continues to anchor the country’s clean energy drive and hydrogen training hub.
Namibia’s biggest privately owned conglomerate, Ohlthaver & List (O&L) Group, led by billionaire executive chairman Sven Thieme, has sold its stake in Cleanergy Solutions Namibia to H2Infra NV, a subsidiary of Belgium-based CMB.TECH, marking a major shift in the country’s growing green hydrogen industry.
The acquisition, which is pending clearance from the Namibian Competition Commission, will give H2Infra full control of Cleanergy Solutions, one of Namibia’s flagship clean energy ventures and a central player in its hydrogen development strategy.
For Thieme, the transaction reflects a calculated strategic pivot as the company streamlines operations in line with its long-term plan, Vision 2029. “While our shareholder chapter comes to an end, our partnership story does not,” he said, emphasising O&L’s continued collaboration with CMB.TECH on future clean energy initiatives.
He praised the Cleanergy and CMB.TECH teams for their innovation and commitment to Namibia’s energy transition, expressing confidence that the company will thrive under new ownership. “As CMB.TECH takes the lead, we believe Cleanergy Solutions will remain a key driver of Namibia’s green energy development,” Thieme said.
Founded more than a century ago as a trading venture between Hermann Ohlthaver and Carl List, O&L has evolved into a cornerstone of the Namibian economy, contributing nearly four percent to national GDP. The group’s portfolio spans food and beverages, real estate, leisure, and renewable energy, employing thousands of Namibians across its subsidiaries.
Green hydrogen ambitions gain fresh momentum
Cleanergy Solutions Namibia, the joint venture now transitioning fully to CMB.TECH, develops hydrogen-based technologies for domestic and industrial use. In September, it inaugurated a solar-powered green hydrogen production and refuelling facility in Walvis Bay, the first of its kind in Namibia. The site features a hydrogen academy to train local engineers and technicians, while already supplying hydrogen to trucks, tractors, and off-grid power systems.
The European Union, which has partnered with Namibia to accelerate renewable energy investment, hailed the Walvis Bay facility as proof that global collaboration can yield tangible progress. Beyond its environmental benefits, the initiative is expected to spur job creation, boost local skills, and strengthen small businesses within Namibia’s emerging green economy.
With CMB.TECH assuming full ownership, Cleanergy Solutions enters a new phase, one poised to keep Namibia at the forefront of Africa’s green hydrogen revolution
