Masdar, a leading clean energy company based in Abu Dhabi, is poised to significantly ramp up investments in green hydrogen projects, according to Mohammad Abdelqader El Ramahi, the company's Chief Green Hydrogen Officer. This move comes as the world grapples with the need for sustainable energy solutions to combat climate change.
El Ramahi, speaking at the World Future Energy Summit in Abu Dhabi, highlighted the current period as an ideal time to implement green hydrogen projects in the United Arab Emirates (UAE). Masdar aims to allocate half of its targeted production capacity for green hydrogen and its derivatives by 2030-2033, reaching a goal of one million tonnes per year.
Green hydrogen, produced using renewable energy sources like solar and wind power to split water molecules, is considered a promising clean fuel alternative. Unlike traditional "grey" hydrogen production methods that rely on fossil fuels, the green hydrogen process generates no greenhouse gas emissions. This clean-burning fuel has the potential to decarbonize various sectors, including transportation, industry, and power generation.
El Ramahi emphasized the burgeoning potential of the green hydrogen sector, citing World Bank estimates that predict investments reaching a staggering $11 trillion by 2050. He pointed out that widespread adoption of green hydrogen could be instrumental in the global fight against climate change by helping to neutralize the carbon footprint.
Masdar's commitment to green hydrogen aligns with the UAE's broader vision of establishing itself as a global leader in clean energy solutions. The Emirati government has set ambitious targets for hydrogen production, aiming to reach 1.4 million tonnes annually by 2031 and a staggering 15 million tonnes by 2050.
To achieve these ambitious goals, Masdar is actively forging partnerships with international companies. Recent collaborations include a €15 billion agreement with Spain's Iberdrola to evaluate the development of offshore wind and green hydrogen projects in key markets like Germany, the UK, and the US. Another partnership with Austria's Verbund Green Hydrogen is exploring the feasibility of constructing one of Europe's largest green hydrogen production plants in central Spain.
By focusing on large-scale green hydrogen projects, Masdar is not only helping to meet the UAE's clean energy targets but also contributing to the development of a global green hydrogen economy. This has the potential to revolutionize the energy landscape and pave the way for a more sustainable future.