In a significant move towards global development and the goals outlined in the Paris Agreement, the International Renewable Energy Agency (IRENA) has entered into a partnership agreement with thyssenKrupp.
The collaboration aims to advance the green transformation by focusing on the large-scale production and supply of green hydrogen and other green energy carriers, as well as their transport and infrastructure along the entire hydrogen value chain.
IRENA’s General-Director, Francesco La Camera, and thyssenKrupp’s Chief Executive Officer, Martina Merz, signed the agreement in a virtual ceremony. The partnership is expected to foster knowledge exchange and technological solutions to expedite the production, delivery, and utilization of green hydrogen, which plays a crucial role in decarbonizing economies, meeting climate goals, and ensuring sustainable energy supplies.
The collaboration between IRENA and thyssenKrupp encompasses various areas:
Identifying Green Hydrogen Applications: The partnership aims to explore and identify potential applications for green hydrogen across different industries. By understanding the unique requirements and opportunities in each sector, the collaboration seeks to unlock the full potential of green hydrogen as a versatile energy carrier.
Assessing Domestic Hydrogen Demand: Understanding the demand for hydrogen within national markets is essential for strategic planning and investment. IRENA and thyssenKrupp will collaborate to assess the domestic hydrogen demand and identify the key sectors where green hydrogen can make a significant contribution to deep decarbonization efforts.
Developing the Business Case for Green Hydrogen: Demonstrating the economic viability of green hydrogen is crucial to its widespread adoption. The partnership aims to develop a compelling business case for green hydrogen, highlighting its potential as a major contributor to deep decarbonization and sustainable energy transition.
IRENA, as the global authority on renewable energy, and thyssenKrupp, a renowned international group of companies with expertise in industrial and technology businesses, bring their respective strengths and knowledge to the collaboration. Together, they aim to accelerate the development and deployment of green hydrogen technologies and solutions.
Green hydrogen, produced through electrolysis powered by renewable energy sources, has the potential to revolutionize various sectors, including transportation, industry, and energy storage. Its advantages lie in its ability to decarbonize sectors that are challenging to electrify directly, offering a clean and sustainable alternative to fossil fuels.
The partnership between IRENA and thyssenKrupp holds significant potential impact:
Advancing Climate Goals: By promoting the production and utilization of green hydrogen, the collaboration contributes to the global efforts of mitigating climate change. Green hydrogen enables the decarbonization of energy-intensive sectors and helps reduce greenhouse gas emissions.
Fostering Energy Security: Green hydrogen can play a crucial role in securing energy supplies, as it can be produced domestically using renewable energy sources. This reduces reliance on fossil fuel imports and enhances energy independence for countries aiming to transition to a sustainable energy future.
Driving Industrial Transformation: The collaboration’s focus on identifying green hydrogen applications in various industries drives the transition towards cleaner and more sustainable industrial processes. Green hydrogen can enable the decarbonization of sectors such as steel production, chemical manufacturing, and transportation, contributing to a greener and more resilient economy.
Scaling up Production: One of the key challenges in the widespread adoption of green hydrogen is scaling up its production to meet growing demand. This requires significant investment in renewable energy infrastructure and electrolysis technologies, as well as the development of cost-effective and efficient production methods.
Infrastructure Development: Establishing a robust and interconnected infrastructure for green hydrogen production, transportation, and distribution is critical. This includes the construction of electrolysis plants, hydrogen storage facilities, and a network of refueling stations to support the deployment of hydrogen-powered vehicles and industrial applications.
Cost Competitiveness: Green hydrogen is currently more expensive to produce compared to fossil fuel-based hydrogen. Lowering the production costs through technological advancements, economies of scale, and supportive policies is essential to enhance its competitiveness and accelerate its adoption.
The partnership between IRENA and thyssenKrupp marks a significant milestone in driving the green hydrogen transformation. By combining their expertise and resources, they aim to unlock the potential of green hydrogen as a key enabler of a sustainable and decarbonized energy future.