As part of the COP28, Masdar, the Emirates’ renewable energy company*, has signed a number of hydrogen-related contracts.
While climate is being discussed in Dubai, Masdar is signing agreements. The most important of these was with Iberdrola, for an alliance and a co-investment of up to $15 billion. The two partners will work together in wind power and green hydrogen for key markets such as Germany, the UK and the USA. “We know that we need to triple renewable energy capacity by 2030 to stay on a 1.5 degree trajectory”, says Sultan Al Jaber, who is both the UAE Minister for Industry and Chairman of Masdar and COP28.
Europe and Africa in sight
Europe is clearly of interest to the king of renewable energy in the Gulf. Masdar has signed an agreement with Austrian oil company OMV to produce green hydrogen and help decarbonise its refineries. The decision will be taken in 2024. It has also signed an agreement with the Verbund group, an Austrian energy company, to study the large-scale development of electrolysis in Spain. Hydrogen production could decarbonise industrial sectors in the Iberian Peninsula and Central Europe. As for Northern Europe, Masdar has signed an agreement with the Port of Amsterdam to supply green liquid hydrogen that could be used for SAF (sustainable aviation fuels).
Another ambitious agreement concerns Africa, to promote the transition in six sub-Saharan countries (Angola, Uganda, Congo, Kenya, Mozambique and Zambia). The company will invest $10 billion and develop 10 GW of capacity by 2030 to develop green hydrogen. According to several studies, Africa could account for 10% of hydrogen production.
Masdar strengthens its position in the Gulf
However, the company is also working with its neighbours. Masdar has signed a memorandum of understanding (MoU) with Jordan for a potential green hydrogen production plant, alongside another agreement on wind power (for 1 GW). There is also an agreement with Bahrain on renewable energies. In addition, a strategic collaboration has been agreed to strengthen the Masdar’s position as a leader in hydrogen. It involves the Abu Dhabi Department of Energy and the Investment Office. The aim is to promote the production, storage and transport of hydrogen for export throughout the Emirates.
Finally, on the sidelines of COP28, Masdar and TotalEnergies successfully flew a helicopter on synthetic fuel (SAF) made from methanol. The operation also involved Airbus, Falcon Aviation Services and Axens. The aim is to have the methanol certified and to encourage the development of e-SAF. “It’s a critical element to decarbonise aviation,” commented Patrick Pouyanné, CEO of TotalEnergies.
*Masdar was created in 2006 and has three shareholders: Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company and Abu Dhabi National Energy Company PJSC (TAQA).
Do you want to learn more about Masdar and its involvement in hydrogen? Then our latest 2 articles on the subject should interest you. You can read them here and there.
Article written by Laurent Meillaud and translated by Logan King
