Swiss renewable energy provider Axpo is set to join forces with global technology giant ABB for the development of a number of green hydrogen projects in Italy.
ABB Axpo green hydrogen. Photo: ABB
The companies will work together on a pilot project that will research technologies along the entire green hydrogen supply chain and carry out production feasibility tests.
The companies signed a letter of intent that also covers research and development projects funded by the European Union, as well as support for green financing.
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The preliminary agreement with the Energy Industries Division of ABB marks an important step in Axpo Italia’s strategy of expanding its activities in the hydrogen sector. It follows the recent announcement of its collaboration with the Italian services and consulting company RINA, which aims to develop a robust hydrogen supply chain that will bring together a number of key stakeholders in Italy.
The cost of production is currently a major barrier to the widespread adoption of green hydrogen. Produced solely using renewable energy sources, green hydrogen is approximately six times more expensive than traditional "grey" hydrogen and two to three times more expensive than hybrid "blue" hydrogen, both of which are produced using fossil fuels as an energy source.
Axpo Italia’s Head of Origination & Business Development, Simone Rodolfi, said: "We are fully committed to exploring the potential of green hydrogen as part of our strategy to facilitate the energy transition. There has been much collaboration between Axpo and ABB in recent years and the recent agreement reinforces that relationship, enabling both companies to become important players in this promising segment."
Head of ABB Energy Industries Italia, Sergio Durando, added: "Hydrogen offers a concrete solution for the decarbonisation of industrial processes and economic sectors where the reduction of CO2 emissions is both urgent and difficult to achieve.
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"The initiation of this agreement with Axpo is a first step in exploring the potential of green hydrogen in Italy. We believe it is very important to collaborate with other players in the industry to make the transition to a clean energy future a reality."
Together with its partners, Axpo operates over 100 power plants and is the largest producer of renewable energy in Switzerland. Abroad, Axpo focuses on solar and wind energy and invests in technically and economically suitable locations.
Its wind farm portfolio includes plants in France, Spain, Italy and northern Europe. Through its subsidiary Urbasolar, Axpo is active in the entire solar energy value chain.
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