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Global green hydrogen production capacity increased by 44% last year

Global green hydrogen production capacity increased by 44% last year compared to the previous year, reaching 109 thousand tons per year.

According to the information compiled by the AA reporter from the “Hydrogen Conversion Outlook and Trends: Q1 2023” report prepared by London-based data analysis and consulting company GlobalData, 393 hydrogen projects were signed during the last year.

According to the report, if global low-carbon hydrogen market development efforts increase, annual hydrogen production capacity worldwide is expected to exceed 111 million tons by 2030.

According to the report, which states that the total project capacity for green hydrogen has reached 166 million tons by the end of 2022, 90% of the projects are low-carbon hydrogen projects.

According to the report, global green hydrogen production capacity increased by 44% last year compared to the previous year, reaching 109 thousand tons per year. It is stated that the capacity of electrolysis technology, which is of key importance for producing green hydrogen, has reached 1065 gigawatts, and it is calculated that this will increase even more.

“Multinational partnerships” come to the fore in the hydrogen sector

According to the report, which states that partnerships in the global hydrogen field increased by 66% last year compared to the previous year, the value of mergers and acquisitions in this field reached $24.4 billion last year.

While an annual low-carbon hydrogen capacity of 111.9 million tons was announced from various countries, especially the USA, Denmark, Egypt, Canada, Portugal, last year, Green Hydrogen International company announced two hydrogen projects with 43 million tons of capacity in Canada alone, and the projects will start in 2030.

According to the report, which states that countries cooperate with multinational companies to reduce global economic risks, GHI, Suez Canal Economic Zone, Egypt’s Wealth Fund, New and Renewable Energy Management, Egypt Electricity Transmission Company is the leader in low carbon hydrogen production with an annual capacity of 56.3 million tons.

It is also stated that companies such as Globeleq Africa, Linde, John Wood Group, ThyssenKrupp, H2-Industries, Alcazar Energy and Samsung Engineering stood out in the development of the hydrogen economy by providing engineering, procurement and installation (EPC) services last year.

Hydrogen could be ‘breakthrough’

Hydrogen is considered as an alternative source with the highest energy content per unit mass among known fuels. During the generation of energy from hydrogen, which is a more efficient fuel than petroleum derivatives, no harmful chemicals are released to the environment.

Hydrogen holds great potential to help decarbonize hard-to-electrify sectors such as the steel and chemical industries, shipping, long-haul road transport and aviation.

According to experts, hydrogen, especially in the storage of renewable electricity, could be a “breakthrough” in the energy, industry and transportation sectors.

Source: AA / Prepared by Irem Yildiz

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