Early endeavours in the market for green hydrogen have been made by Nordex Group.
The Group has recently formed two strategic joint ventures, the first for the production of electrolyzers, a vital part of producing green hydrogen, and the second for the development of substantial green hydrogen assets.
Over the next thirty years, experts predict that the need for hydrogen will increase exponentially by about 700 percent. The majority of this must come from clean sources if we are to reach the goal of net zero by 2050.
Partnership with Acciona
Nordex H2 S.L., a joint venture with Acciona, will create green hydrogen projects in regions with an abundance of onshore wind resources. These resources can be found in places where green hydrogen can be produced at a competitive price but are not connected to traditional electrical grids. The Nordex Group has developed an appealing pipeline of green hydrogen projects across fascinating locations, such as in the United States and Latin America, supported by the company’s prior project development expertise in wind.
For EUR 68 million, ACCIONA acquired a 50% stake in this new Nordex Group business, which was split equally between ACCIONA S.A. and ACCIONA Energa—to finance the company’s future growth and development.
The joint venture wants to create projects that will generate 0.5 million tonnes of green hydrogen yearly within the next ten years, with a target renewable energy development pipeline of 50 GW. By 2027, the first projects would be prepared for construction.
Each project will be implemented through strategic alliances with other public and private businesses and organisations interested in the mass production or consumption of green hydrogen, with a minimum size requirement of 1 GW of installed renewable energy.
Partnership with Sodena
The second project, called “Nordex Electrolyzers,” attempts to create, produce, and sell electrolyzers using unique technology. During the next five years, this initiative will receive EUR 15 million from the Nordex Group and Sodena, a publicly traded corporation owned by the Government of Navarra, in order to support the creation of a commercial prototype and its initial industrial deployment. The need for electrolyzers is predicted by experts to increase from a very small capacity base today to 400 GW by 2030.