Rising Hydrogen Projects in MENA and Industry Milestone with Plug Power
Key Ideas
  • Dii Desert Energy reports a surge in hydrogen projects in MENA, with 90% being green, indicating a significant growth in sustainable energy initiatives.
  • Plug Power's introduction of a spot pricing program for liquid green hydrogen is a major industry milestone, enhancing transparency and accessibility in the market.
  • HydroFleet's $33 million investment in a hydrogen production and fueling station for heavy-duty vehicles in Georgia demonstrates the growing interest and potential in hydrogen-powered transportation.
  • Ørsted's shift in focus from liquid e-fuels to renewable hydrogen highlights the company's commitment to sustainable practices amidst a challenging business environment.
Dii Desert Energy has reported a substantial increase in hydrogen projects in the Middle East and North Africa (MENA) region, with the number of installations rising from 67 at the end of 2023 to 117 by the end of 2024. Notably, 90% of these projects are classified as green, marking a significant shift towards sustainable energy solutions in the region. The Dubai-based think tank also highlighted that the equivalent solar and wind capacity related to these projects is estimated to be around 400 GW, with a focus on both international and local offtake. In a separate development, Plug Power has made a groundbreaking move in the industry by launching the first-ever spot pricing program for liquid green hydrogen. This innovative initiative, in collaboration with S&P Global Platts, will provide weekly pricing based on real-time supply and demand, enhancing transparency and accessibility for customers. The program requires spot agreements with Plug Power, enabling interested parties to purchase hydrogen at the published price and arrange for tanker fill-ups at the company's facilities. Meanwhile, HydroFleet has announced a significant investment of nearly $33 million to establish a hydrogen production and fueling station in Georgia, targeting heavy-duty hydrogen fuel cell trucks. This investment underscores the growing adoption of hydrogen-powered transportation solutions, with the US market already having a substantial number of hydrogen-powered vehicles across different sectors. On the other hand, Ørsted has revealed a strategic shift in its green fuels efforts, deciding to discontinue its liquid e-fuels project FlagshipONE. Despite this, the Danish company remains dedicated to renewable hydrogen as a key component of its business strategy, emphasizing its importance in the offshore wind sector. Ørsted's decision reflects the evolving landscape of renewable energy investments and the company's commitment to sustainability goals, even amidst challenges that have led to adjustments in its future investment plans.
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