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Omanâs OQ and Partners Plan 25-Gigawatt Green Hydrogen Plant
May 19 2021, 11:25 AM
May 18 2021, 3:16 PM
May 19 2021, 11:25 AM
(Bloomberg)
(Bloomberg)
Oman said it plans to build one of the worldâs largest green hydrogen plants, as Middle Eastern states step up efforts to produce a fuel seen as crucial to the clean energy transition.
State oil firm OQ SAOC, Hong Kong-based InterContinental Energy Ltd. and Kuwaitâs EnerTech will be partners on the project, which will eventually be powered by 25,000 megawatts of wind and solar energy, according to OQ.
No funding has been sourced yet and a final investment decision is not expected until 2026, according to InterContinental Energy.
And this list will undoubtedly grow in the coming weeks and months as more companies seek to get an early foot in the door of what is expected to be an enormous and potentially lucrative new sector. Let s not forget that despite the massive potential for green hydrogen to decarbonise transport, heating and heavy industry, this is still a nascent sector the largest electrolyser currently in operation is only 20MW.
The thinking behind leaping from megawatt-scale to gigawatt-scale is that the future demand for green H
2 will be gigantic, and that costs can be quickly driven down through economies of scale, with a view to making renewable hydrogen cheaper than highly polluting grey (produced from unabated natural gas or coal) by 2030.
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InterContinental Energy and its partners in the Asian Renewable Energy Hub plan to build a 26-GW solar and wind project in East Pilbara, Western Australia, to produce hydrogen via electrolysis, and convert the hydrogen to ammonia for export.
The company has received environmental approval for the first 15-GW phase, and expects first production and exports in 2027-2028. It is the largest development of its kind anywhere in the world. Nobody had planning approval for a mega project over 10 GW as far as we ve seen, Thacker told S&P Global Platts in an interview.