Dii Desert Energy said hydrogen projects in the Middle East and North Africa (MENA) increased from 67 at the end of 2023 to 117 by the end of 2024, with 90% classified as green. In its latest outlook, the Dubai-based think tank said the equivalent solar and wind capacity likely stands at 400 GW. “International offtake is still the main focus, but local offtake is on the rise,” it explained, adding that the “average project size is among the largest internationally.”
Plug Power has launched the first-ever spot pricing program for liquid green hydrogen, calling it a major industry milestone. Each Thursday, S&P Global Platts will publish a price for the following week based on Plug Power’s real-time supply and demand. Customers must have spot agreements with the US company. Those looking to purchase hydrogen at the published price can execute a transaction agreement to send a tanker to one of Plug Power’s plants for a fill.
HydroFleet said it is investing nearly $33 million to build a hydrogen production and fueling station for heavy-duty hydrogen fuel cell trucks in the US state of Georgia. The company said the US market has more than 80,000 hydrogen-powered forklifts, 18,000 hydrogen-powered passenger vehicles, and 570 hydrogen-powered buses and heavy trucks. “Pooler is an ideal location for HydroFleet's facility due to the proximity to major interstates, the Port of Savannah, and prospective fleet customers,” said HydroFleet CEO Scott Moe.
Ørsted has confirmed that it has deprioritized its green fuels efforts, ending its liquid e-fuels project FlagshipONE. “We remain committed to renewable hydrogen as an important lever for offshore wind,” the Danish company said in its adjusted business plan. “Challenging” times have pushed it to reduce its 2030 investment program by around 25% compared to its previous plan. Hydrogen activities represented just 2% of Ørsted's 2024 total capex in 2024.
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Hydrogen will work because it has to work for the oil industry to survive — using its existing business model. “They used to supply fossil fuel, now they supply this great green fuel (hydrogen). But the business model stays the same, and customers also may like it. They’ve been doing this for the past 60 years, and it works for them. Governments like hydrogen because they don’t have to worry about road pricing because they can just add a tax to the pump and collect revenue that way, like they do with fossil fuel. There’s a real logic for the legacy industry to want this to work, which is why there is a continual fight for survival for some of them.”
And consider this: When nuclear fusion becomes a reality, a good pway to store the tremendous heat that it would be produced is by using it to make hydrogen. And that hydrogen can be shipped to faraway lands to provide abundant power to remote places on Earth. As such, it is prudent for us to continue to improve our methods for making, storing, and transporting hydrogen because we will need them all in the future.