Petrofac’s Post

🫧🏭 #H2Steel is part of the prestigious EIC Green Hydrogen Portfolio, joining 8 other projects funded through the EIC Pathfinder challenge 🌱 These projects are at the forefront of Europe's energy decarbonization efforts, in line with the objectives of the European Green Deal. Together, we aim to develop innovative solutions for efficient, sustainable, and flexible energy systems, driving the transition to a climate-neutral economy by 2050. #EICGreenHydrogenPortfolio projects lead the charge in the transition for greener steel production. Even though initial adjustments may affect steel prices, the long-term benefits of the #GreenHydrogen production promise zero-emissions and economically viable hydrogen-based industry, contributing to sustainable practices and addressing the #EICPathfinder challenge. Explore the Green Hydrogen Portfolio revolutionizing #GreenHydrogen production! Check the first newsletter of the portfolio here 👉 https://lnkd.in/eUCDpQe5

Looking forward to moderating the discussion of such an esteemed set of panelists on the 16th of November at the Renewables & Sustainability Seminar at WETEX2023. Topics we will cover include: • Status of low carbon hydrogen production and utilization in the MENA region • Challenges and barriers to the deployment of low-carbon hydrogen, including financing, infrastructure, and technical capacity • Key trends in Low Carbon Hydrogen in the MENA region and globally. • Best practices and innovative solutions for accelerating the deployment of low-carbon hydrogen in the MENA region, including policy frameworks, regulatory reforms, and market incentives • Case studies of successful low-carbon hydrogen initiatives and their outcomes in the MENA region #LowcarbonH2 #MENA #Decarbonisation #WETEX

Together with the Green Hydrogen Catapult, we support setting stringent climate-aligned implementation of the 45V clean hydrogen production tax credit. Championing the importance of strict guidance criteria on the three pillars: additionality, regionality, and temporal matching, the U.S. will ensure the prioritization of emission reduction and the harmonization of standards to catalyze global hydrogen markets. With GW-scale projects under development in the U.S. and internationally, Catapult members are acutely aware that definitions for clean hydrogen set in the U.S. will directly influence the definitions set by other governments, therefore showing a need for harmonization of standards. #GreenHydrogen #Decarbonization #Harmonization #GWScale

According to the #REPowerEU plan, the European Union will produce 10 million tons per year of renewable hydrogen by 2030. The European Hydrogen Bank is here to be the most important support mechanism to boost this strategy. On November 23rd, during #EUH2Week, the first €800 million pilot auction will take place. It will go to projects whose bids do not exceed the maximum price of €4.50/kg, those who will begin operating within five years, as well as other requirements. This European Commission initiative seeks to cost-effectively distribute financial support, set prices and form a market, reduce risks, and reduce the administrative burden. In short, it aims to accelerate the implementation of projects such as our Andalusian Green Hydrogen Valley, the largest in Europe. #Decarbonization #GreenHydrogen #AndalusianGreenH2Valley

In a bid to propel the production of carbon-free hydrogen, the French government has allocated a substantial envelope of 4 billion euros. However, the eligibility criteria for this financial support reveal a stark reality: the doors are open only to entities boasting a minimum annual turnover of 100 million euros and a track record of five projects each exceeding 30 million euros.

🌟 An exciting step towards a more sustainable and greener future 🌿 This month, the US Department of Energy (DOE) made an important decision by releasing a Notice of Intent (NOI) for the Regional Clean Hydrogen Hubs (H2Hubs) initiative. ⚡️ The so-called H2Hubs program will receive up to $1 billion in funding to support a demand-side initiative. This investment, made possible by the Bipartisan Infrastructure Law, is set to create a national clean hydrogen network, which will play a crucial role in reducing emissions from energy-intensive sectors like industrial and chemical processes, as well as heavy-duty transportation. 🌍 This announcement marks a pivotal moment in our journey towards a cleaner, greener future. By providing market certainty to both producers and end-users in the H2Hubs during the early years of production, we are poised to unlock significant private investment and fully unleash the potential of clean hydrogen. ➡️ https://lnkd.in/gQ9qw5cH #CleanHydrogen #Sustainability #RenewableEnergy 

𝗧𝗵𝗲 𝗽𝗮𝘁𝗵 𝘁𝗼 𝗮 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗳𝘂𝘁𝘂𝗿𝗲 𝗶𝘀 𝗽𝗮𝘃𝗲𝗱 𝘄𝗶𝘁𝗵 𝗴𝗿𝗲𝗲𝗻 𝗵𝘆𝗱𝗿𝗼𝗴𝗲𝗻 🚀   💡 To achieve net-zero emissions, Europe's green hydrogen market must scale within this decade. But we're facing some critical challenges that need urgent attention.   💰 Just a few years ago, we expected green hydrogen to cost less than €3/kg. But today, a complex landscape with rising energy prices and supply chain hurdles suggests costs in the range of €5-8/kg by 2030.   We must address this cost challenge to make green hydrogen competitive, or else offtakers will remain reluctant to commit to long-term contracts, hindering growth.   🤝 To build confidence, we need ambitious national implementation of EU regulations to incentivize the hydrogen value chain.   My colleagues Jens Burchardt, Esben Hegnsholt, Mogens Holm, Frank Klose, Daniel Ritter, and Stefan Schönberger detail the current challenges and need for action in their new whitepaper "Turning the European Green Hydrogen Dream into Reality: A Call to Action" [1].   It's time for policymakers and industry players to join forces and accelerate this transformative industry 🌍💪   #GreenHydrogen #Hydrogen #NetZero #GreenGrowthatBCG

Nice description - check this out 🙃. How #sectorcoupling works and how #hydrogen will be one of the missing link to support #energytransformation for (1) mobile 🚛 , (2) electric ⚡️ and (3) heating 🏡 solutions 👍. Thx Doreen Abeysundra - well done.

**🌱 HYDROGEN BANK: CONSULTATION ON THE SECOND AUCTION** The European Commission is launching a consultation with stakeholders on the conditions for the upcoming auction of the Hydrogen Bank. This initiative aims to bridge the gap between the cost of hydrogen production and the price consumers are willing to pay. Here are the key points of this consultation: - Producers will be able to apply for a fixed premium per kilogram of hydrogen produced. - The premium ceiling is set at €3.50/kg for this auction, down from €4.50/kg previously. - The subsidy will be granted for a maximum period of ten years. - The total budget for this auction could reach approximately €2.2 billion. - Part of the budget will be reserved for synthetic fuels in the maritime sector. Stakeholders are invited to provide feedback on the proposed conditions by June 6. Additionally, an event with these stakeholders is organized by the Commission on June 12 (registration until May 24). 🔗 [Auction Conditions](https://lnkd.in/eqvKVrSp) 🔗 [Consultation Registration](https://lnkd.in/eqvKVrSp) #GreenHydrogen #EnergyTransition #EU #Consultation #Sustainability

We had the pleasure earlier today of attending the Hydrogen Investment Forum – organised by Hydrogen UK and the Department for Energy Security and Net Zero. Speakers included the Rt Hon Claire Coutinho MP, Secretary of State for Energy Security and Net Zero (pictured). Following the Government's earlier announcement about a £21m pot to fund 7 hydrogen projects – including our Tees Green Hydrogen project in Teesside – there was a real buzz in the room about the possibilities green hydrogen has to offer in decarbonising industry and accelerating the UK towards net zero. Hynamics #GreenHydrogen #InnovationInTeesside #AcceleratingNetZero #Decarbonisation