Global Green Hydrogen Production Capacity Increased

Global Green Hydrogen Production Capacity Increases According to information compiled from the "Hydrogen Transformation Outlook and Trends: Q1 2023" report prepared by GlobalData, a London-based data analytics and consulting company, 393 hydrogen projects were concluded over the past year. According to the report, if global efforts to develop the low-carbon hydrogen market continue to increase, annual hydrogen production capacity worldwide is expected to exceed 111 million tonnes by 2030. The report states that the total project capacity for green hydrogen reached 166 million tonnes by the end of 2022, with low-carbon hydrogen projects accounting for 90 percent of the projects. According to the report, global green hydrogen production capacity increased by 44 percent year-on-year to reach 109,000 tonnes annually. The capacity in electrolysis technology, which is critical for green hydrogen production, is reported to have reached 1,065 gigawatts, and it is calculated that this will increase further.

Multinational partnerships gain prominence in the hydrogen sector

According to the report, global partnerships in the hydrogen field showed a 66 percent increase year-on-year, with the value of mergers and acquisitions in this field reaching USD 24.4 billion last year. Last year, various countries including the United States, Denmark, Egypt, Canada, and Portugal announced annual low-carbon hydrogen capacity of 111.9 million tonnes, while in Canada alone, Green Hydrogen International announced two hydrogen projects with 43 million tonnes capacity and decided that the projects will commence in 2030. According to the report, countries are engaging in cooperation with multinational companies to reduce global economic risks, with GHI, Suez Canal Economic Zone, Egypt's Sovereign Fund, New and Renewable Energy Administration, and Egypt Electricity Transmission Company holding a leading position with annual capacity of 56.3 million tonnes in low-carbon hydrogen production. Additionally, last year, companies such as Globeleq Africa, Linde, John Wood Group, ThyssenKrupp, H2-Industries, Alcazar Energy, and Samsung Engineering stood out in this field by providing engineering, procurement, and construction (EPC) services in the development of the hydrogen economy.

Hydrogen could be "groundbreaking"

Hydrogen is evaluated 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 compared to petroleum derivatives, no environmentally harmful chemical substances are released. Hydrogen carries significant potential to help decarbonize sectors that are difficult to electrify, such as the steel and chemical industries, maritime shipping, long-distance road transport, and aviation. According to experts, hydrogen could be "groundbreaking" in energy storage, particularly, as well as in the energy, industrial, and transport sectors.   Source