Jason Deign of Greentech Media reports that a new coalition of energy giants has announced plans to build 25GW of hydrogen energy by 2026.
- This consortium of companies believes that hydrogen will become the preferred energy source in sectors such as steel, fertilizer, and long-range shipping.
- The coalition also believes that green hydrogen has the potential to power a quarter of the world’s energy production by 2050.
- Analysis firm Wood Mackenzie predicts that the 2020s will be the “decade of hydrogen” and that the cost of hydrogen could fall by as much as 64% by 2040.
“ACWA Power, CWP Renewables, Envision, Iberdrola, Ørsted, Snam and Yara launched a coalition called the Green Hydrogen Catapult with the aim of deploying 25 gigawatts of renewables-based hydrogen production capacity by 2026.”
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