Green hydrogen – the next big thing?
In January 2020, Periscope partners met industrial players in Groningen and held an international idea jam on the greening of ports, with submissions and input from all around the North Sea. It became clear very quickly that (green) hydrogen was of particular interest, especially as the northern Netherlands already has 33 planned projects in hydrogen until 2030, with established physical connections to Norway, Germany and Denmark. The northern Netherlands has positioned itself as an international hydrogen hub; this position is being mirrored by Norway, Scotland and Germany.
Two Periscope partners, South Norway European Office and Samenwerkingsverband Noord Nederland (SNN), then initiated a transnational opportunity workshop in March 2020, which confirmed intense interest in green hydrogen. There was participation from industrial entities from Norway, the UK, the Netherlands and Denmark, with declarations of specific interest. An initial mapping of these spheres to potential funding streams was made.
According to report published by Grand View Research, the global green hydrogen market size was valued at USD 786.9 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.24% from 2020 to 2027. Green hydrogen is produced by the electrolysis of water for which electric power is utilised, which is generated by renewable energy sources, such as wind or solar energy. The presence of favourable government policies pushing towards the hydrogen economy along with growing environmental concerns regarding increasing carbon emissions from fossil fuel usage is expected to drive the demand for the hydrogen economy.
Illustration © ORE Catapult
Both South Norway European office and SNN followed up on this opportunity by attending related workshops, meetings and seminars, including hosting a specific event in September 2020 where three very different case studies were highlighted by South Norway European Office: the Orkney Islands, Scotland, where excess electricity generated from renewable energy sources is turned into hydrogen; Hydrogen Valley in the northern Netherlands, the location of Europe’s largest green hydrogen project; and Germany’s hydrogen strategy which aims for global leadership in the sector. Four current cases from the Agder region in southern Norway were then presented and mapped to spheres of European interest including potential funding streams.
A report showing the opportunities and route to market is currently under development.
Top image © David Will/Pixabay