September 24, 2020 Read More →

Green H2 picking up pace recently

Renewable Watch:

As the world moves towards low-carbon pathways, hydrogen is gradually paving the highway. Hydrogen, a clean-burning fuel, is a promising substitute to the pollution-heavy fossil fuels. It is produced by splitting water using an electrolyser. If renewable power from wind, solar, hydro or geothermal sources is used to produce hydrogen, it is called green hydrogen. Several green hydrogen projects have been cropping up across the world, with large-scale projects being announced at an accelerating rate.

In a recent report, the Institute for Energy Economics and Financial Analysis (IEEFA) has estimated that 50 viable projects have been announced globally in the past year. These projects are estimated to have a hydrogen production capacity of 4 million tonnes per annum (mtpa), along with a renewable power generation capacity of 50 GW. The total capital expenditure required for these projects is expected to be to the tune of $75 billion. Most of these 50 projects are at an early stage, with just 14 having started construction while 34 are at the study or MoU stage. The large-scale projects are expected to begin functioning by 2022-23 and 2025-26. Despite many projects being announced, the IEEFA suggests that the forecasted supply will likely be insufficient to meet demand projections.

[Meghaa Gangahar]


More: Showing Promise

Posted in: IEEFA In the News

Comments are closed.