CNBC Spanish power company Iberdrola and Sweden’s H2 Green Steel are to partner and develop a major facility that will produce green hydrogen, in yet another example of how companies are taking an interest in the much talked about sector. In an announcement on Thursday, the firms said the 2.3 billion euro ($2.6 billion) project would see them set up a green
CNBC Hydrogen has a key role to play in the years ahead, especially in industrial applications, according to the CEO of German power company RWE. “When you look long term, there is no way around hydrogen,” Markus Krebber, who was speaking to CNBC’s Annette Weisbach, said. In an interview broadcast Tuesday morning, Krebber claimed this was because hydrogen was “the only technology
CNBC Norsk Hydro and fossil fuel giant Shell are to look into the potential of joint projects focused on green hydrogen production. In an announcement Tuesday, Norway’s Hydro said a memorandum of understanding had been signed between the two parties. Under the deal, Shell and Hydro’s green hydrogen business, Hydro Havrand, will focus on the joint generation and supply of hydrogen “produced from
Reuters OSLO – Royal Dutch Shell and Norsk Hydro are looking into jointly producing hydrogen from renewable electricity in a push to decarbonise their own operations as well as supply heavy industry and transport customers, Hydro said on Tuesday. The Anglo-Dutch oil giant and the Norwegian aluminium maker’s green hydrogen unit, Hydro Havrand, have signed a memorandum of understanding (MoU)
Reuters BEIJING/SINGAPORE – China’s Sinopec Corp plans to spend 30 billion yuan ($4.6 billion) on hydrogen energy by 2025 as the state oil and gas major pivots to producing natural gas and hydrogen as part of becoming a carbon-neutral energy provider by 2050. Asia’s biggest oil refiner said on Monday it plans to become China’s largest company to produce hydrogen
CNBC Low-carbon hydrogen isn’t “cost competitive with other energy supplies in most applications and locations” and the situation is unlikely to change unless there’s “significant support to bridge the price gap,” according to the World Energy Council. Published Tuesday, the analysis – which was put together in collaboration with PwC and the U.S. Electric Power Research Institute – raised the
CNBC Saudi Arabia’s oil giant Aramco is stepping up efforts to promote initiatives in hydrogen technology and investments to reduce carbon emissions, after a harrowing investor smackdown for Big Oil. “Hydrogen is real,” Aramco Chief Technology Officer Ahmad Al Khowaiter told CNBC in an interview Sunday, after a day of presentations from Aramco executives and industry partners to highlight the
Nasdaq U.S. President Joe Biden’s target to decarbonize the nation’s power industry by 2035 will only be achievable if clean energy technologies like advanced nuclear and carbon capture rapidly become commercially viable, according the chief executive of leading U.S. utility company Duke Energy Corp DUK.N. Duke, which provides electricity to 7.8 million people across six states, plans to reach 50% decarbonization
CNBC So-called “green” hydrogen production using onshore wind turbines could achieve price parity with fossil-based hydrogen by the year 2030, according to a white paper from Siemens Gamesa Renewable Energy. In a statement on Wednesday the firm — a major player in wind turbines — also said that green hydrogen produced using wind from the offshore sector could achieve price parity
Reuters WASHINGTON – The Biden administration on Monday set a goal of reducing the cost of producing clean hydrogen, a fuel that could reduce dependence on others that emit greenhouse gases that cause climate change. The Department of Energy (DOE) set a goal for hydrogen made with clean power, such as renewables and nuclear energy plants, by 80% to $1
Reuters Canada’s Suncor Energy (SU.TO) will partner with utility ATCO Ltd (ACOx.TO) to develop a clean hydrogen project near Fort Saskatchewan, Alberta, in one of the most significant steps taken by an oil sands producer to cut greenhouse gas emissions. Canada’s cash-rich oil sands firms are facing mounting pressure to spend on transitioning towards cleaner energy at a time when Prime Minister Justin Trudeau
Reuters U.S. engine maker Cummins (CMI.N) said on Monday it would build a plant in Spain to make electrolyser systems that will be used to produce green hydrogen, a zero-carbon fuel which advocates hope can help wean economies off planet-warming power sources. Cummins said in a statement it would spend 50 million euros ($61 million) on the plant in central Spain, which
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