Masdar, the leading renewable energy company in the United Arab Emirates, and VERBUND Green Hydrogen GmbH, an Austrian energy conglomerate and a subsidiary of the VERBUND group, signed an agreement to assess the feasibility of a large-scale green hydrogen project in central Spain.

Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer of Masdar, and Hamead Ahrary, Managing Director of VERBUND Green Hydrogen GmbH, signed the agreement at COP28 in Expo City, Dubai.

The green hydrogen project will utilize the abundant renewable resources of the Castilla La Mancha region. Furthermore, the plant will aim to generate green hydrogen to cover industrial demand in Spain and central Europe. Renewable sources will be used to produce green hydrogen. The green hydrogen will be produced by utilizing Masdar’s planned solar and wind power plants in Spain. In addition, Masdar plans to start operating the project by the end of this decade.

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In Europe, green hydrogen projects have enormous growth potential. Currently, green hydrogen could gradually replace the approximately 500,000 metric tonnes of 'grey' hydrogen that Spain consumes annually, the majority of which is derived from traditional fuels.

The green hydrogen produced will be used to decarbonize Europe’s petrochemical sectors, which include steel production, fertilizers, chemicals, heavy transportation, and aviation.

About VERBUND 

VERBUND is Austria's leading energy company, boasting a strong focus on renewable energy. With its roots in hydropower, VERBUND has expanded its portfolio to include wind and solar power, making it a key player in the transition to a sustainable energy future.

VERBUND's main activities are the generation, transmission, distribution, and sale of electricity. VERBUND also operates many power plants, both in Austria and abroad. Some of the upcoming projects of VERBUND include:

Gratkorn Hydro-Power Plant

This run-of-river power plant on the Mur River in Styria is currently under construction and will be the most modern hydropower plant in Austria.

Partnership with ACWA Power

VERBUND has partnered with ACWA Power, a leading Saudi developer of renewable energy projects, to explore the development of green hydrogen projects in the Middle East.

About Masdar

Masdar is one of the world's largest renewable energy companies and a green hydrogen leader, playing a central role in placing the UAE at the forefront of the global energy transition. Its mission is to address the world's energy challenges through renewable energy projects, and its vision is to create a sustainable future for all. 

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