Masdar and Lhyfe have signed a Memorandum of Understanding (MoU) to explore potential co-development opportunities in large-scale green hydrogen production projects in Europe. The company already has agreements in Spain with Capital Energy
Through this strategic partnership, the two companies intend to explore collaboration and investment opportunities throughout the green hydrogen value chain, focusing on the joint development of large projects. This collaboration will leverage their complementary capabilities and support their ambitions to drive and develop the sector.
Lhyfe is one of the pioneers in the green hydrogen sector and is one of the fastest growing players. Founded in 2019, Lhyfe already has four green hydrogen production plants installed in Europe and several others under construction. Lhyfe has demonstrated its industrial capacity to build and operate higher capacity production plants. Lhyfe’s project portfolio represents a total installed capacity of 9.5 GW and includes several large-scale projects in advanced phases and ready for acceleration. Its proven track record as one of the largest promoters and operators of commercially active green hydrogen projects in Europe was key to Masdar’s decision to sign the Memorandum of Understanding.
Masdar aims for a 100 GW renewable energy portfolio by 2030, supporting the goal set in the UAE Consensus of tripling global renewable energy capacity by the end of this decade, and aims to be a leading producer of green hydrogen in the same term. It aims to produce one million tonnes per year of green hydrogen or equivalent derivatives in the UAE and around the world within a decade.
Mohammad Abdelqader El Ramahi, General Manager of Green Hydrogen at Masdar, said: “Masdar is committed to driving the development of green hydrogen around the world and we believe that Europe will be an important player in the future green hydrogen sector. This collaboration with Lhyfe will allow us to leverage our shared expertise and resources to explore avenues to accelerate development and potentially support our ambitious growth plans.”
For his part, Matthieu Guesné, Founder and CEO of Lhyfe, stated: “Masdar is one of the most important developers of renewable energy, with real experience in green hydrogen and strong leadership in terms of deployment. Proof of this is the large number of sector awards received since 2007 for its renewable energy projects and its commitment to innovation. We have a common ambition: to decarbonize the industry on a large scale and as soon as possible thanks to hydrogen. “By combining our complementary expertise, we want to accelerate the deployment of large facilities, which have the capacity to make a difference to greenhouse gas emissions.”
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