Energy

Engie, Masdar establish $5 billion green hydrogen alliance

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Solar panels in Abu Dhabi, April 2019.

Martial Colomb | Photodisc | Getty Images

France’s Engie and Abu Dhabi-based renewable energy business Masdar have established a strategic alliance focused on the development of projects related to green hydrogen.

In an announcement at the end of last week, the companies said the agreement would “explore the co-development of a UAE-based green hydrogen hub.”

While fine details of the plan were relatively sparse, the firms will look to develop projects with an electrolyzer capacity of 2 gigawatts.

Investment in the initiative will amount to approximately $5 billion. In a statement, Engie CEO Catherine MacGregor described renewable hydrogen as “an…



Source cnbc.com

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