Plenty of funds directed towards green hydrogen production...

Plenty of funds directed towards green hydrogen production (source SP Angel)
Hydrogen, wind and battery news
ThyssenKrupp pursues $5.7bn IPO of hydrogen unit
• ThyssenKrupp is pushing ahead with plans for an IPO of a unit that helps build hydrogen plants (Bloomberg)
• The company is looking to list Uhde Chlorine Engineers as soon as Q1 2022, with the engineering group hoping
to secure a €5bn ($5.7bn) valuation.
• Uhde constructs plants that generate hydrogen gas from renewable energy sources such as solar and wind.
• Hydrogen is seen as key to cutting emissions from carbon-heavy industrial processes such as chemical
production and steelmaking.
RWE to triple offshore wind capacity by 2030
• RWE will invest €50bn in offshore wind and other renewables, including hydrogen and batteries, by 2030, to
double its portfolio to 50GW from the planned 25GW.
• The company intends to triple its offshore wind capacity from 2.4GW to 8GW, in the same time frame, with
activities focused in Europe as well as North America and Asia.
• Under a new strategy, RWE will invest an average of €5bn each year in projects in the three geographical
regions.
• Previously, the company aimed to increase its total capacity by an average of 1.5GW per year – the new strategy
puts this figure to an average of 2.5GW per year.
100MW electrolyser planned for UK by 2025
• The consortium behind the ‘Gigastack’ offshore wind-to-hydrogen project plans to have a 100MW electrolyser
system operation in the UK by 2025.
• ITM Power, Ørsted, Phillips 66, and Element Energy, the companies behind the project have published a report,
highlighting the progress made on the project to date and the pathway to commercial operation in 2025, subject
to a supportive policy environment.
• In the plans a 100MW electrolyser system would utilise renewable power from Hornsea 2, the 1.4GW offshore
wind farm under construction in the North Sea.
• The Gigastack project is expected to lay the groundwork for future expansion in the region and catalyse the
renewable hydrogen sector by providing a blueprint for scalable electrolyser technology in the UK.
• The consortium work with UK Government over the next 12 months to secure revenue support and agree specific
deployment targets for renewable hydrogen to ensure the Gigastack deployment target of 2025 is achieved