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The UAE aims to capture 25 percent of the low-carbon hydrogen market, which is expected to be worth more than $400 billion a year within five years.
The green hydrogen project implemented by the Dubai Electricity and Water Authority (Dewa) at the Mohammed bin Rashid Al Maktoum Solar Park in partnership with Expo 2020 Dubai and Siemens Energy is a key project in supporting the UAE’s efforts to achieve global competitiveness in green hydrogen market, a WAM report said.
Implementing the project is the first in the Middle East and North Africa to use solar energy to produce hydrogen, and the solar park helps to achieve competitive prices in the production of green hydrogen.
renewable resource
The production of green hydrogen is mainly carried out by electrolysis using renewable energy. Dewa has the world’s lowest solar price (average cost of energy) five times in a row, making Dubai the benchmark for global solar prices.
In addition to this, Dubai offers a clear and stimulating regulatory and legislative framework that encourages private sector and global investors and developers to engage in clean and renewable energy projects using the Independent Power Producer (IPP) model.
Dewa has attracted around AED40 billion ($11 billion) in investment through this model, encouraging value-added partnerships between the public and private sectors.
Innovative Technology
At the same time, innovative technologies for the production of green hydrogen from clean and renewable energy are developing rapidly and steadily, with research showing that green hydrogen production will grow by 57% annually, reaching 5.7 million tons by 2030.
Experts stressed that Dubai attracts the best talent with its abundant solar energy resources and strong banking system, in addition to advanced infrastructure and major projects such as solar parks, ammonia production plants, aluminium and steel plants. Experts and experts from around the world, contributing to making the UAE and Dubai an energy leader.
It has also consolidated the strength and diversity of the national economy and developed the UAE’s green hydrogen market.
Saeed Mohammed Al Tayer, MD and CEO of Dewa, said green hydrogen is one of the environmentally friendly energy sources. It represents one of the pillars of a sustainable future that depends on accelerating the transition to carbon neutrality.
Dubai Clean Energy Strategy 2050
This achieves Dubai’s 2050 Clean Energy Strategy and Dubai’s 2050 Net-Zero Carbon Emission Strategy, whereby 100% of Dubai’s total electricity generation will come from clean energy by 2050.
Sheikh Mohammed bin Rashid Al MaktoumVice President, Prime Minister and Ruler of Dubai said:
The green hydrogen project is in line with Dubai’s commitment to sustainable development and its support for energy and climate change issues.
“It also supports the vision and direction of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to transform Dubai into a carbon-neutral economy by 2050, and Dewa’s Energy diversification strategies and increased investment by supporting innovation and R&D in energy storage technologies.
Al Tayer added:
This includes green hydrogen, which some describe as the “fuel of the future” and which will play an important role in the global energy mix and combating the effects of global warming.
“This project supports the UAE’s hydrogen leadership roadmap, a key driver in delivering future solutions to climate change challenges and achieving the UAE’s leadership in hydrogen.”
green transportation
Waleed bin Salman, Executive Vice President of Business Development and Excellence at Dewa, noted that Dewa has invited global leading consultancies to submit offers to develop an ambitious green hydrogen production strategy.
The goal is to develop a green transportation sector, reduce carbon emissions across industries, generate electricity and heat, produce water and other applications.
read The latest news shaping the hydrogen market hydrogen center
UAE eyeing 25% of Dubai’s low-carbon hydrogen market, September 5, 2022
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