Energy major bp will acquire a 40.5% stake in and become operator of a green hydrogen project in Western Australia that could feature up to 26GW of solar and wind when complete.
Global hydrogen uptake is far below what is required under the Paris Agreement and underinvestment in the technology is a missed opportunity to decarbonise hard to abate sectors of the global economy, according to risk management provider DNV.
TotalEnergies is expanding its partnership with Indian conglomerate Adani Group as they aim to deliver the world’s largest green hydrogen ecosystem in India.
UAE-owned renewable energy company Masdar has penned an agreement with the Ministry of Energy of the Republic of Azerbaijan to develop up to 10GW of renewables in the country as Masdar continues to expand its international presence.
Spanish utility Iberdrola will invest €3 billion (US$3.2 billion) in green hydrogen, the company’s chairman, Ignacio Galán, has announced as he called for a stable European framework to boost investment in the technology.
Solar EPC Sterling and Wilson believes an easing of PV module supply concerns, the rise of alternate supply chains and a gigawatt-scale green hydrogen market will drive both short- and medium-term growth for PV developers and EPCs.
Additional subsidies to support the production of green hydrogen are being requested by industry players looking to set up bankable H2 projects, it was suggested during a panel discussion.
Powering electrolysers with renewables generation that would otherwise be curtailed could be an effective strategy for producing green hydrogen in the coming years until the H2 sector benefits from further cost declines, it was suggested during a panel discussion.
Europe has established a leading position across the green hydrogen value chain but now must accelerate investments to build out infrastructure while committing green hydrogen targets to legislation.
