A consortium of 30 European stronghold companies has joined forces to bring down 100% green hydrogen price to just €1.5/kg by 2030. The platform is named ‘HyDeal Ambition’ to be based in Spain. It has comprised of energy companies, traders and financial institutions.
HyDeal Ambition has set an ambitious target for installing 95 GW of solar and 67 GW of electrolysis capacity by 2030. This would result in 3.6 million tonnes of green hydrogen annually. This sound enormous, but it is equivalent to just 1.5 months of oil consumption in France. The hydrogen will be supplied to energy, industry and mobility sectors through the gas transmission and storage network.
HyDeal Ambition is the end-result of the two years of efforts of 30 European energy players. It will take a start of producing green hydrogen through solar-based electrolysis in the Iberian Peninsula from 2022. The first deliveries started in Spain and the west of France and later to the East of France and then Germany.
H2 Bulletin is told, “The facilities to produce green hydrogen generated by solar-driven electrolysis will be installed in the Iberian Peninsula (Spain and Portugal) because this is the cheapest place to produce.” The official further added, “There will be no wind energy at all, only solar energy capacity will be installed.”
Thierry Lepercq, the spokesperson for HyDeal, said: “HyDeal Ambition constitutes a complete industrial ecosystem spanning the whole green hydrogen value chain (upstream, midstream, downstream, finance), and results from two years of research, analysis, modelling, feasibility studies and contract design.”
- Solar developers: DH2/Dhamma Energy (Spain), Falck Renewables (Italy), Qair (France)
- Electrolysis OEMs, engineering and EPC providers: McPhy Energy (France), VINCI Construction (France)
- Gas TSOs: Enagás (Spain), OGE (Germany), SNAM (Italy), GRTgaz (France), Teréga (France)
- Energy and industrial groups: Gazel Energie, a subsidiary of EPH (France), Naturgy (Spain), HDF Energie (France)
- Infrastructure funds: Cube, Marguerite, Meridiam
- Consultants and advisors: European Investment Bank, Corporate Value Associates (CVA), Clifford Chance, Cranmore Partners, Finergreen, Envision Digital, Energy Web