The consortium, which has already been collaborating on the project in Oman for more than three years, aims to produce 25 gigawatts of renewable solar and wind energy to produce millions of tonnes of zero-carbon green hydrogen annually. The hydrogen can be used locally, exported or converted into green ammonia for international export. A start-up date has not been disclosed.

The partners said that the site’s strategic location between Europe and Asia, as well as its excellent solar and wind resources, makes it well positioned to offer a secure and reliable supply of green fuels globally at a highly competitive price.

They noted that the green hydrogen market is expected to be worth $2.5 trillion by 2050, driven by demand for fuels from the shipping, aviation, rail and trucking sectors, as well as from heavy industry in areas such as Northwest Europe, which will use green hydrogen to power their processes.  In addition, power companies across East Asia with a legacy reliance on coal and gas are planning to transition to green ammonia in order to reduce their carbon emissions.

Alicia Eastman, co-founder and president of InterContinental Energy said: “This is a huge milestone in our mission to deliver cost competitive zero-carbon fuels at unprecedented scale to meet rapidly growing global demand across sectors. Only by decarbonizing fuels as well as electrons will the world reach Paris climate agreement targets and increasingly stringent commitments to reduce greenhouse gas emissions.”

Author: Elaine Burridge, Freelance Journalist