Global hydrogen investment is expanding

In the context of accelerating the realization of carbon neutrality, hydrogen energy is getting more and more attention. According to the "Hydrogen Insight 2023" released by the International Hydrogen Energy Council, the global hydrogen economy is still growing strongly and the development momentum continues to accelerate. The report tracks 1,040 projects worldwide: direct investment in hydrogen energy will reach $320 billion by 2030, of which about 50% will focus on large-scale industrial applications of hydrogen energy; About 20% of the projects are applied in the field of transportation.

Financing for the world's largest green hydrogen project has been completed

Saudi NEOM Green Hydrogen Energy Company (NGHC) has announced the closure of financing for its green hydrogen plant in Saudi Arabia. The project, with a total value of $8.4 billion, is funded by $6.1 billion in non-recourse financing from 23 local, regional and international banks and financial institutions. In addition, NGHC signed a $6.7 billion EPC and systems integration agreement with Air Products.

Large hydrogen production project in Saudi Arabia

When completed, the project will be the world's largest green hydrogen production facility on a commercial scale. By the end of 2026, the project will integrate up to 4GW of solar and wind power to produce 600 tons of hydrogen per day.

Namibia signed a contract for a 2 million ton green hydrogen ammonia synthesis project

The Government of the Republic of Namibia and Hyphen Hydrogen signed the Feasibility and Implementation Agreement (FIA) for the $10bn Green Hydrogen project, the largest in sub-Saharan Africa. The signing of FIA agreement marks that the project has entered the implementation stage, but there are still three stages to go before the actual construction. According to FIA, the project will go through five phases: preliminary phase: lasting six months to meet all FIA prerequisites; The Namibian Government exercised its option to purchase a 24 per cent interest in the project. Feasibility phase: For two years, Hyphen was responsible for evaluating the feasibility of the project development. Validation phase: After Hyphen submitted the feasibility report, the Namibian government verified (if applicable) the final project design. Financing and construction phase: Hyphen was responsible for financing and construction of the project. Operational phase: Hyphen will be responsible for the operation and maintenance of the project. Mr Hyphen said the project was expected to produce 1m tonnes of ammonia a year by 2027, with total production by 2029.

China can continue to build overseas hydrogen energy

We will sign the green hydrogen project with annual output of 320,000 tons in Morocco. Recently, China Can Construction International Group signed memorandums of cooperation on green hydrogen projects in the southern region of Morocco with Saudi Arabia's Agilan Brothers and Morocco's Gaia Energy. This project is another important achievement achieved by China in the development of overseas new energy and new energy + markets following the memorandum of cooperation on the development of green hydrogen project in Egypt. The project is located in the coastal area of the southern region of Morocco, with convenient port and shipping transportation. The project mainly includes the construction of a production plant with an annual output of 1.4 million tons of green ammonia (about 320,000 tons of green hydrogen), as well as the construction and later operation and maintenance of supporting 2GW photovoltaic and 4GW wind power projects.

A joint venture with Brazil's oil giant will launch a green hydrochlorine project. China Can Construction International Group and Petrobras, Brazil's state-owned oil and gas giant, will analyse and co-operate on business opportunities in renewable energy generation and green hydrogen production. Petrobras will set up a new task force to focus on various cooperation projects with China Energy Construction International Group on the follow-up green hydrogen project.

CGN will build a green hydrogen plant in Brazil. China General Nuclear Power Brazil has expressed interest in investing in building a green hydrogen plant in Bahia, Brazil. According to foreign media, the Bahia government has officially accepted CGN's proposal and is expected to announce the news at the inauguration ceremony of the Tanque Novo Wind project in the near future. According to Senai Cimatec, the state of Bahia has the potential to produce more than 60 million tonnes of green hydrogen per year.

China Hydrogen Energy signed a green hydrogen cooperation agreement with South African enterprises. Following Saudi Arabia and Brazil, Jiangsu Guofu Hydrogen Technology and Equipment Co., Ltd. and South Africa's first line Solar Energy Development Company signed a long-term cooperation strategic agreement in the field of green hydrogen.

The cooperation agreement is based on the South African company's existing holdings of GW grade solar power stations and its land bank of about 20,000 hectares in five major hot spots around the world. The two parties will jointly invest in the company, cooperate in production, and quickly establish the production of derivative energy and chemical basic materials such as green hydrogen, green ammonia and green urea, and put them into the international raw materials market.

At the same time, both parties have reached a consensus that in the next five years, they will achieve at least one GW electrolytic cell market order every year, and jointly invest in the establishment of a company in green hydrogen (liquid hydrogen) to jointly develop the green hydrogen market and achieve a win-win situation.