European initiative aims for 95GW of solar for green hydrogen production

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Image: Toshiba Corporation.

Solar developers including Falck Renewables and Qair are among the 30 founding members of a new coalition that aims to deliver green hydrogen at the same price as fossil fuel-produced H2 this decade.

The HyDeal Ambition initiative – which also consists of utilities, gas transmission system operators, infrastructure funds and consultants – will look to deliver green hydrogen across Europe at €1.5/kg (US$1.82) before 2030.

The ambition is to achieve 95GW of solar and 67GW of electrolysis capacity by 2030 to deliver 3.6 million tonnes of green hydrogen per year to users in the energy, industry and mobility sectors via the gas transmission and storage network.

A series of projects and partnerships are now being launched involving several of the 30 participants, with a first initiative expected within a year in Spain, based on a portfolio of solar sites with a capacity of close to 10GW. Other projects will then be carried out in France and Germany.

HyDeal spokesperson Thierry Lepercq said the initiative spans the whole green hydrogen value chain (upstream, midstream, downstream, finance), and results from two years of research, feasibility studies and contract design. “HyDeal Ambition makes it possible to produce and deliver competitive green hydrogen in Europe,” he said.

The announcement follows the formation of a similar coalition called the Green Hydrogen Catapult, which has seven members – including Iberdrola, ACWA Power and CWP Renewables – and aims drive down the cost of producing renewable hydrogen to below US$2/kg by 2026.

Analysis from IHS Markit suggests that costs below US$2/kg for electrolysis are where green hydrogen starts becoming competitive with traditional hydrogen. The research firm predicts annual global investments in green hydrogen to exceed US$1 billion by 2023 as production costs continue to fall.

Read Next

PV Tech Premium
September 24, 2021
Concerns have been raised that new measures introduced by Spain’s government to limit windfall profits of renewable energy plants could dent investor confidence and impact the stability of the country’s solar sector.
September 17, 2021
BP, Abu Dhabi National Oil Company (ADNOC) and Masdar have partnered up to develop low carbon hydrogen hubs and create decarbonised air travel corridors between the UK and UAE in a deal that will see “billions” of dollars of investment.
PV Tech Premium
September 15, 2021
Record-breaking power prices across Europe have turned the spotlight on the role fossil fuel plants play in generating electricity and how the transition to renewables-plus-storage could lower consumer bills.
September 13, 2021
The Australian Renewable Energy Agency (ARENA) will support projects that further lower the cost of renewable generation as part of a new investment strategy aimed at underpinning the transition to net zero emissions.
September 7, 2021
Supply disruptions in the coal and gas sectors have contributed to record electricity costs across Europe, leading to calls for more support for renewables generation to mitigate future price rises.
PV Tech Premium
September 1, 2021
Spain’s renewables auction next month is set to receive high levels of interest from solar bidders, according to industry observers, as the country’s government seeks to support the swift deployment of new capacity following a summer beset by record-breaking electricity prices.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021