Lhyfe and Masdar to Collaborate on Green Hydrogen Projects in Europe
Key Ideas
- Lhyfe and Masdar signed an MoU to explore co-development opportunities in large-scale green hydrogen production projects in Europe.
- The collaboration aims to leverage the expertise of both companies to drive the green hydrogen sector's development and deployment.
- Masdar plans to achieve a renewable energy portfolio capacity of 100GW by 2030 and be a leading producer of green hydrogen.
- The shared ambition of Lhyfe and Masdar is to decarbonize industries at scale rapidly through the deployment of green hydrogen.
Lhyfe, a green hydrogen pioneer, and Masdar, a clean energy leader in the UAE, have signed a memorandum of understanding to explore co-development opportunities in large-scale green hydrogen projects in Europe. The partnership aims to collaborate on investment opportunities across the green hydrogen value chain, focusing on developing significant projects. Lhyfe, established in 2019, already operates green hydrogen production sites in Europe with substantial capacity. Masdar, aiming for a 100GW renewable energy portfolio by 2030, plans to be a prominent green hydrogen producer globally. The collaboration between Lhyfe and Masdar will leverage their expertise to accelerate the deployment of green hydrogen projects and contribute to decarbonizing industries. This partnership reflects a shared commitment to driving the growth of the green hydrogen sector rapidly and at scale.