WAM: Innovative technologies to produce green hydrogen using clean and renewable energy are witnessing rapid developments and steady progress, and studies indicate that green hydrogen production will increase by 57 percent annually to reach 5.7 million tonnes in 2030.
The UAE aims to acquire 25 percent of the low-carbon hydrogen market, which is expected to reach more than US$400 billion. The green hydrogen project implemented by Dubai Electricity and Water Authority (DEWA) in cooperation with Expo 2020 Dubai and Siemens Energy at the Mohammed bin Rashid Al Maktoum Solar Park, is a key project in supporting the UAE’s efforts to achieve global competitiveness in the green hydrogen market.
Implementing the project, which is the first of its kind in the Middle East and North Africa to produce hydrogen using solar energy, the Solar Park contributes to achieving competitive prices in producing green hydrogen.
The production of green hydrogen is mainly carried out through electrolysis using renewable energy sources. DEWA received the lowest solar energy prices (Levelised Cost of Energy) globally five consecutive times, making Dubai a global benchmark for solar power prices.
In addition to that, Dubai provides clear and stimulating regulatory and legislative frameworks, which encourage the private sector and global investors and developers to participate in clean and renewable energy projects, using the Independent Power Producer (IPP) model. DEWA has attracted investments of around AED40 billion through this model, which encourages value-added partnerships between the public and private sectors.
Experts highlighted the fact that the abundance of solar energy sources in Dubai and the strong banking systems in the emirate, in addition to the advanced infrastructure and major projects such as solar parks, ammonia production plants, aluminium and steel factories, Dubai’s attraction of the finest experts and specialists from all over the world, contribute to making the UAE and Dubai an energy leader. This also consolidates the national economy’s strength and diversity and develops the green hydrogen market in the UAE.