2020-12-10 12:05:00
EUROPEAN HYDROGEN DEVELOPMENT $110 BLN
PLATTS - 09 Dec 2020 - European energy groups Iberdrola from Spain, Orsted from Denmark and Snam from Italy have joined a green hydrogen project that aims to develop up to 25 GW of worldwide renewables-based hydrogen production and halve the current production costs to below $2/kg by 2026, they announced Dec. 8.
The seven founding partners of the Green Hydrogen Catapult initiative also include Saudi Arabia's ACWA Power, CWP Renewables and Yara, who together intend to target an acceleration in the scale and production of green hydrogen in order to transform the world's most carbon-intensive industries, including power generation, chemicals, steelmaking and shipping.
"Recent analysis suggests a $2-per-kilogram price represents a potential tipping point that will make green hydrogen and its derivative fuels the energy source of choice across multiple sectors -- including steel and fertilizer production, power generation and long-range shipping -- where ample near-term demand exists in Europe and elsewhere," the group said.
The Green Hydrogen Catapult target will require investment of roughly $110 billion and deliver more than 120,000 jobs, according to the groups.
Companies in this initiative will work toward the target by developing project capacity, supporting the design of specific tools to solve early market challenges, and sponsoring targeted collaboration to accelerate access to clean air, creation of green jobs, supply chain resilience and economic growth using green hydrogen.
"We believe the collective ingenuity and entrepreneurship of the private sector can deliver green hydrogen at less than $2 per kilogram within four years," Paddy Padmanathan, CEO of ACWA Power, said.
The project will also test the development of green ammonia, a derivative of green hydrogen to displace fossil fuels in thermal power generation, greatly decreasing the emissions intensity of existing energy infrastructure.
Spain's Iberdrola is already involved in a series of green ammonia projects, with the first 20 MW electrolyser already are under construction in association with Spanish fertilizer producer Fertiberia.
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Earlier:
2020, December, 7, 12:45:00
HYDROGEN ENERGY LOSSES
The energy transformation requires a major shift in electricity generation from fossil fuels to renewable sources like solar and wind, greater energy efficiency and the widespread electrification of energy uses from cars to heating and cooling in buildings.
2020, December, 3, 11:30:00
EUROPE'S GHG EMISSIONS DOWN
Since 1990, GHG emissions in the EU have been steadily declining, with emissions in the EU 27 falling to 24% below their 1990 levels in 2019.
2020, December, 2, 14:25:00
GREEN HYDROGEN COST & SECURITY
Replacing natural gas with hydrogen has its pitfalls, starting with how it affects the pipelines it travels in and the appliances that use it.
2020, November, 23, 12:35:00
EUROPEAN RENEWABLE TARGET $950 BLN
These objectives will require a total investment of close to EUR 800 billion (USD 949.5bn) between now and mid-century, the commission estimates.
2020, November, 13, 13:00:00
GREEN HYDROGEN MARKET $12 TLN: 2050
Goldman Sachs predicted that green hydrogen will become a $12-trillion market by 2050.
2020, November, 12, 13:40:00
HYDROGEN FOR GERMANY $8.25 BLN
The government in the summer earmarked 7 billion euros ($8.25 billion) for the build-up of green hydrogen in Germany, plus a further 2 billion euros to set up partnerships with other countries.
2020, November, 12, 13:35:00
GREEN HYDROGEN IS COUNTERPRODUCTIVE
I regard the strictly green position as irrational and counterproductive. It is an impediment to efforts to quickly slash carbon emissions and limit the effects of global warming.
