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With an addressable market worth up to $12tn by 2050 in the utilities industry alone, the race is on to build at-scale facilities producing green hydrogen and its derivatives.
Still in its infancy as a commercially viable fuel, hydrogen produced sustainably by using renewable energy to power the electrolysis of water can provide vast quantities of clean fuel. And for Middle East producers, it allows them to store and transport the other energy source that they have in abundance – sunlight.
It is already possible to envisage vast solar farms across the deserts of the Middle East that are used to generate clean hydrogen fuel that can be sold locally, exported through pipelines or used as feedstock for higher-value chemical products.
There has been a slew of recent green hydrogen investment deals in Abu Dhabi, Dubai, Egypt, Jordan, Morocco, Oman and Saudi Arabia. Many more will follow.
It is an era where risks abound from developing green hydrogen capabilities, but so do potential gains, writes MEED's energy editor Jennifer Aguinaldo.
> AGENDA: The dawn of the hydrogen era
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We hope you find the May 2021 edition of MEED Business Review informative.
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