Lhyfe and Masdar Forge Partnership to Drive Large-Scale 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, aiming to drive the sector's development.
- Lhyfe, a fast-growing player in the green hydrogen space, has a pipeline of projects totaling 9.5GW capacity and is a key partner for Masdar in this collaboration.
- Masdar, targeting a 100GW renewable energy portfolio by 2030, seeks to become a leading producer of green hydrogen, aiming for 1 million tonnes per annum globally within a decade.
- The partnership between Lhyfe and Masdar combines their expertise to accelerate the deployment of large-scale green hydrogen projects and decarbonize industries on a massive scale.
In a significant move towards advancing green hydrogen production, Lhyfe and Masdar have come together to explore the co-development of major projects in Europe. The Memorandum of Understanding (MoU) signed at Abu Dhabi Sustainability Week sets the stage for potential collaboration and investment opportunities across the green hydrogen value chain. Lhyfe's established presence in the sector, with 4 operational production sites in Europe and a pipeline of projects totaling 9.5GW capacity, positions it as a key player in this partnership. Masdar, a prominent player in renewable energies, aims to achieve a 100GW renewable energy portfolio by 2030 and become a leading producer of green hydrogen worldwide, with ambitions to reach 1 million tonnes per annum within a decade. The partnership aims to leverage the combined expertise of both companies to accelerate the deployment of large-scale green hydrogen sites, contributing significantly to reducing greenhouse gas emissions and driving the shift towards decarbonization in industries.