Hydrogen as a fuel offers great potential to decarbonize various industries and sectors like refining, iron and steel, power, and chemicals. Many companies are now focusing on reducing carbon emissions and improving their ESG (Environmental, Social, and Governance) rankings. Governments of various countries are also helping the companies go green by providing them with grants to conduct research and development.
The following assessment focuses on how Northwestern and Mediterranean nations plan to achieve their goal of reducing carbon emissions through green hydrogen projects.
There are 98 operational Green Hydrogen facilities across both regions (Northwest and Mediterranean Europe, excluding Germany and Scandinavia -covered in earlier reports) and 244 projects at various completion stages that will come online between 2022 and 2040. The current green hydrogen capacity in the region is 85 thousand tons per annum (MTPA), and based on the projects in the pipeline, the total capacity will reach 9881 MTPA by 2040.
Source: Stratas Advisors
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