In the backdrop of the UN Climate Change Conference, COP28, hosted in Dubai, a groundbreaking collaboration was unveiled as Masdar, a distinguished leader in renewable energy, and Hy24, a major player in clean hydrogen investment, formalized a significant joint development and investment framework agreement. The primary objective of this partnership is to propel the establishment of large-scale green hydrogen projects on a global scale.
Within the ambit of this strategic framework, Masdar and Hy24 will embark on an exploration of development and investment prospects within the Power-to-X value chain. This transformative process involves the conversion of renewable power through electrolysis into green hydrogen, with subsequent diversification into derivatives such as green ammonia, e-methanol, sustainable aviation fuel, and liquid hydrogen. The strategic focus of this collaboration spans crucial regional hubs across Europe, the Americas, Asia Pacific, and the Middle East and North Afica (MENA).
The establishment of the “Clean Hydrogen Infrastructure Fund,” managed by Hy24, is a significant facet of this collaboration. The fund anticipates extending co-development and co-investment opportunities to Masdar, potentially amounting to €2 billion over the next five years. Recognizing the pivotal role of green hydrogen in accelerating the global adoption of renewable energy, this collaboration becomes a linchpin in achieving net-zero targets.
Beyond Hy24’s role in advancing the hydrogen economy, this collaboration strategically leverages Masdar’s extensive 20GW renewable energy portfolio deployed worldwide. The synergy positions both industry leaders to explore larger transactions and project developments across diverse geographies at an accelerated pace. Importantly, it opens new investment gateways for Hy24 in the MENA region, tapping into the well-established partnerships led by François-Aïssa Touazi, Chairman of Ardian Ltd, Abu Dhabi. Hy24 stands as a joint venturebetween Ardian, Europe’s largest private investment house, and FiveT Hydrogen, a clean hydrogen investment platform.
Masdar, with its inception in 2006, has been a proactive contributor to clean energy objectives across 40 countries, with commitments exceeding US$30 billion in global projects. On the other hand, Hy24, committed to catalyzing the global hydrogen ecosystem, operates through its “Clean Hydrogen Infrastructure Fund,” targeting significant investments in hydrogen infrastructure. The fund, having already secured 2 billion euros and completed seven investments, envisions mobilizing up to 20 billion euros within the next five years.
The joint efforts of Masdar and Hy24 signify a pivotal step forward in accelerating green hydrogen initiatives on a global scale. As nations and industries increasingly pivot towards sustainable and renewable energy solutions, this collaboration holds the promise of transformative impact, not only in the energy sector but also in fostering a moresustainable and eco-friendly future.
