Shell will construct the largest green hydrogen power plant in Europe, which will produce 200MW of electricity without any carbon emissions. The 200MW electrolyzer, which will produce 60,000kg of renewable hydrogen daily, will be built in the Port of Rotterdam, the largest seaport in Europe, and be completed by 2025. The hydrogen produced by the plant will be funneled to the Shell Energy and Chemicals Park Rotterdam using a new hydrogen pipeline called HyTransPort, which will reduce the use of grey hydrogen in the refinery. The company aims at becoming a net-zero greenhouse gas emissions company by 2050 and has been increasing low-carbon output as it moves away from oil and gas.
Hydrogen: Fuel of the Future
Hydrogen, specifically green hydrogen, has been a topic of interest for the renewable energy economy for a long time. Hydrogen remains one of the most abundantly available and commonly known elements. Hydrogen will play a critical role in the transition to clean energy with the advancement of its application in sectors such as transportation (fuel cell vehicles), buildings (hydrogen blending), and power generation.
Electrolysis is the center piece of low-carbon hydrogen production and is recognized as one of the most promising ways of aiding decarbonization. Electrolysis produces hydrogen by splitting water into hydrogen and oxygen using electricity. Hydrogen produced through electrolysis using renewable energy is the primary method of producing green hydrogen, with zero carbon emissions from either electricity production or the electrolysis process.
Although green hydrogen is costlier than grey hydrogen, the need for clean energy and its higher efficiency could compel suppliers to switch to green hydrogen. Greater adoption of the technology will attract more companies to use electrolysis for hydrogen production. The increased participation in low-carbon hydrogen production methods is likely to increase the cost competitiveness in the market. Owing to these advancements, the production cost of renewable energy is expected to decrease.
Recent Initiatives and Developments
Recent advancements in technology have made green hydrogen more appealing for many industries. The potential use of hydrogen in storing renewable energy is becoming popular. Companies such as Crossbridge Energy A/S, Everfuel, ReNU Energy, and GP JOULE announced new electrolyzer projects that will produce green hydrogen for different end uses. According to GlobalData, the number of M&A deals in the hydrogen sector increased from 18 in 2017 to 58 in 2021. This growth was complemented by policy initiatives and corporate action prompted by the apparent benefits of hydrogen, as perceived by stakeholders. In the years ahead, hydrogen could significantly alter both mobility and energy supply landscape.
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