Topsoe, a Danish engineering group, plans to construct an electrolyser plant to produce green hydrogen, reported Reuters.
It is expected to become Europe’s biggest electrolyser plant once it becomes operational in 2024.
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When made using renewable energy, hydrogen is considered as green. It is critical in helping industries such heavy transportation to decarbonise.
The plant is expected to cost $284m.
Topsoe CEO Roeland Baan told the news agency that a final investment decision will be made in August.
In May, the European Commission announced its plans to cut down dependence on Russian fossil fuels and aims to generate 10 million tonnes of renewable hydrogen by the end of this decade.
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By GlobalDataThe facility will come with an initial capacity of 500MW per year, and this capacity is expected to be doubled quickly, Baan said.
It also will have a further option to expand to 5GW.
According to Baan, about 100GW of electrolysis capacity would be required to deliver the 10 million tonnes, which is far too much than the present approximately 0.3MW installed capacity.
He further added to meet the EU’s target, there is a need for massive solar and wind energy development given that around 200GW of renewable energy would be needed to meet the target.
“That’s the biggest challenge we are facing,” he said.
Last week, countries such as Belgium, Germany, the Netherlands and Denmark made commitments to build at least 150GW of offshore wind capacity in the North Sea by 2050 in an effort to develop a ‘green power plant’ for Europe.
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Image: The plant is expected to cost $284m. Credit: David Mark from Pixabay.
