German Govt Gives Go-Ahead for H2Global Initiative
The Federal Ministry for Economic Affairs and Energy headed by the Minister Dr. Robert Habeck announced a financial allocation in excess of EUR 900 million that will be used to support the provision of green hydrogen by the H2Global Foundation.
December 24, 2021. By Manu Tayal
On funding allocation announcement, Dr. Axel Wietfeld, Chairman of the H2Global Foundation and CEO of Uniper Hydrogen, said “our goal is to establish a green hydrogen industry which will give us the assurance of a climate-neutral future, while at the same time safeguarding supplies to industry and business.”
The Foundation aims to advance the development of a global market for the hydrogen industry. As demand for energy rises, green hydrogen too will be increasingly in demand. According to the Federal Ministry for Economic Affairs (BMWi), up to the year 2030 power consumption in Germany alone will trend upwards from 545 terawatt-hours (status of per 2020) to 655 terawatt-hours.
“Consequently, it is all the more important for us to be able to make green hydrogen and derivatives available now without delay – for as long as these are not being provided in Germany and in Europe in adequate quantities and on competitive terms,” Wietfeld added.
The H2Global program was developed in recent months as part of the government’s national hydrogen strategy. The idea is that as an instrument of the market economy, an intermediary will buy green hydrogen and derivatives at the lowest price possible at auction and sell these on in Germany and in Europe to the highest bidders.
The intermediary will then receive a subsidy from the BMWi to cover the anticipated negative difference in price as production costs for green hydrogen and power-to-X products are currently significantly higher than for fossil-based products.
This approach was developed by Timo Bollerhey, Managing Director of intermediary HINT.CO GmbH, and Markus Exenberger, Director of the H2Global Foundation, together with an interdisciplinary team of experts, and involving substantial participation of the BMWi. The development was supported by the international cooperation specialists Deutsche Gesellschaft für internationale Zusammenarbeit GmbH (GIZ) in cooperation with the private sector and trade associations, including the German Hydrogen and Fuel Cells Association (DWV).
“The global hydrogen industry of tomorrow needs planning and investment security today – and that is exactly what the H2Global concept aims to do,” as Bollerhey explained. According to Bollerhey, hydrogen will play a pivotal role in decarbonizing industry, the energy economy and mobility. In order to achieve this, Germany and Europe need green hydrogen.
As the Co-founder and Director of the H2Global Foundation, Markus Exenberger added, “International partnerships will smooth the way for adequate supplies of green hydrogen. The H2Global approach will allow us to rapidly ramp up the markets.”
Meanwhile, the first deliveries of hydrogen products are slated to commence as soon as the end of 2024.
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