Masdar to invest heavily in green hydrogen
ABU DHABI: Abu Dhabi Future Energy Company - Masdar, is ramping up its investments in green hydrogen by establishing a dedicated unit to develop specialised projects in this sector locally, regionally, and globally.
This move will reinforce Masdar’s leading position in developing renewable and clean energy projects worldwide and consolidate Abu Dhabi’s pioneering role as a key player in the green hydrogen sector.
Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer, said in statements to Emirates News Agency (WAM) on the sidelines of the World Future Energy Summit in Abu Dhabi, that this period is the best time to implement these projects in the UAE, aiming to allocate half of the targeted production capacity according to Masdar’s announced strategy by 2030-2033, which is one million tonnes per year of green hydrogen and its derivatives.
El Ramahi explained that half of this quantity has been allocated for development in the emirate of Abu Dhabi, equivalent to 500,000 tonnes of green hydrogen annually, which will enhance Abu Dhabi’s leading role as one of the world’s main hubs for green hydrogen production. He pointed out that the development of these projects has already begun in early January 2023.
He noted that Masdar has a pilot project with a production capacity of over 2 megawats of electrolyzers that will be dedicated to producing green iron in cooperation with Emirates Steel Arkan.
He added that the purpose of this project is to experiment with hydrogen and ensure its effectiveness and economic feasibility. El Ramahi continued, “We are working to expand this project in the second phase, where we aim to raise efficiency to reach approximately 100 megawats, but this figure is still under study and development.”
He pointed out that Masdar’s other green hydrogen projects in the Arab Republic of
Egypt reach 4,000 megawats of electrolysers, and the same in Morocco, in addition to our ambition to expand in Europe, America, and Balkan countries such as Azerbaijan and neighbouring countries, and to utilise the company’s effective presence in more than 40 countries around the world with an investment porfolio of over US$30 billion and a production capacity of 20 gigawats.
He indicated that Masdar is also trying to look for investment opportunities in regional countries, including the Sultanate of Oman, in light of its efforts through the development of these projects to prove the economic feasibility of green hydrogen projects as the fuel of the future.
Masdar’s Chief Green Hydrogen Officer said that the green hydrogen sector is one of the new emerging sectors globally that promises a promising future with investments reaching US$11 trillion by 2050, according to World Bank estimates.