Hydrogen flow: South Korea launches hydrogen tender market



According to its claim, South Korea will open the world’s first bidding market for hydrogen power production, while according to the International Energy Agency, Oman’s hydrogen production may exceed the current level of consumption in Europe.

International Energy Agency (IEA) has published a report on Oman’s potential as a competitive low-emission hydrogen supplier. It cites Oman’s solar and wind resources and its vast land area as key factors. Oman aims to produce at least 1 million tons of renewable hydrogen per year by 2030. The goal is up to 3.75 million tons by 2040 and 8.5 million tons by 2050, which exceeds the current hydrogen demand in Europe. “The 2040 hydrogen target would represent 80 percent of Oman’s current LNG exports in terms of energy equivalents, while meeting the 2050 target would almost double that. said IEA.

The Queensland the government has admitted financing of large water projects. The Australian state is offering A$8 million ($5.4 million) over two years for a detailed assessment of the water needs of the city of Gladstone’s hydrogen industry.

Mitsubishi Power Americas and Magnum Development have closed a $504.4 million loan guarantee from the U.S. Department of Energy (DoE) Office of Loan Programs to develop the world’s largest industrial green hydrogen facility in central Utah. Michael Ducker, Executive Vice President, Mitsubishi Power Americas, said that the loan paves the way for accelerating long-term hydrogen markets across the United States.

Lhyfe and Capital Energy have signed a cooperation agreement to jointly develop offshore renewable hydrogen projects in Spain and Portugal. “Under the agreement, the companies will work together to create hydrogen production facilities at some of the offshore wind farms currently being developed by Capital Energy.” said Lhyfe. “The Spanish energy company already has a development pipeline of more than 7.5 gigawatts (GW) in both countries.”

Thyssenkrupp has announced its intention to list Thyssenrupp nucera’s shares on the regulated market of the Frankfurt Stock Exchange (Prime Standard). The initial public offering of ThyssenKrupp nucera shares is likely to be completed “before the summer break on capital market terms”. said two companies.

David is a passionate writer and researcher who specializes in solar energy. He has a strong background in engineering and environmental science, which gives him a deep understanding of the science behind solar power and its benefits. David writes about the latest developments in solar technology and provides practical advice for homeowners and businesses who are interested in switching to solar.

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