German energy company Uniper will partner with one of the largest renewable energy companies in the Middle East. Together, UAE companies want to create a green hydrogen factory. This writes Bloomberg. The planned factory will run on about 1.3 gigawatts of solar energy and is expected to be operational by 2026, says Masdar director Mohammad Abdelqadar El Ramahi.
Uniper’s shareholders agreed earlier this week to a bailout plan by the German government to the tune of around 33 billion euros, under which the gas company is nationalized to avoid implosion. The company had to deal with a huge increase in gas prices due to the war in Ukraine. With the nationalisation, the German government also expects Uniper to meet its climate goals.
Therefore, green hydrogen is seen as a crucial factor in shaping the global clean energy transition. While green hydrogen is still too expensive to compete with fossil fuels, the clean energy source is expected to turn into a mass product in the coming years. Green hydrogen does not emit climate-warming gases when it is burned and is created when renewable energy is used to convert water into hydrogen and oxygen.
Import
Germany plans to import large quantities of hydrogen in the long term, to become independent from coal and meet its 2045 energy goals. In addition, efforts are underway to import more LNG from the Middle East to reduce dependence on gas from pipelines Russians.
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
