Emirati renewable energy company Masdar has formed a strategic alliance agreement with French multinational utility company Engie to develop a green hydrogen hub in the United Arab Emirates (UAE).
The hub will consist of projects with at least 2GW of capacity, which will be developed by 2030 with a total investment of $5bn.
Engie CEO Catherine MacGregor signed the agreement with UAE Industry and Advanced Technology Minister, Abu Dhabi National Oil Company (ADNOC) managing director and group CEO and Masdar chairman Dr Sultan Ahmed Al Jaber.
MacGregor said: “We are very pleased to partner with Masdar to make a direct contribution to the UAE’s Net Zero 2050 strategic initiative.
“This strategic alliance illustrates Engie’s ambitious goals for the long-term development of renewable hydrogen, an essential tool for the energy transition.”
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By GlobalDataThe partnership is expected to bring together Masdar and Engie’s respective synergies and complementarities.
The two companies initially aim to supply hydrogen to meet local supply requirements.
They plan to create a giga-scale green hydrogen hub at a later stage for the Gulf Cooperation Council (GCC), with the potential to export to other markets.
ADNOC and Abu Dhabi National Energy Company (Taqa) recently became shareholders in Masdar together with Mubadala, a sovereign wealth fund owned by the UAE Federal Government.
In a separate development, US-based hydrogen technology company BayoTech has announced an agreement with New Mexico Gas Company to build a hydrogen production facility in Albuquerque, New Mexico.
The BayoGaaS Hydrogen Hub will be owned by BayoTech and occupy a site owned by New Mexico Gas.
New Mexico Gas will use hydrogen produced at the facility in a pilot project for blending hydrogen into the company’s natural gas distribution system.
The hydrogen will also be made available to other local customers, including retail hydrogen refuelling stations, fuel cell fleet vehicle operators and backup power system operators.
