Germany's Siemens Energy is in the process of developing a commercial wind turbine that converts wind power into hydrogen using renewably-sourced energy - a process known as electrolysis.
Photo: Siemens
The €120 million investment marks the renewable energy sector's most concrete plan to capitalise on the green hydrogen market, providing a reliable and cheap way of producing green hydrogen.
The turbine is expected to be around 14MW and will become central to Siemens offshore wind projects by the mid-2020s.
The project aims to integrate electrolysis technology into offshore wind turbines.
Green hydrogen is seen as a necessary technology to embrace in order to lead to complete industrial decarbonisation and can offer a cleaner alternative to fossil fuels.
Electrolysis projects are hardly a new endeavour for the German energy company, who previously invested in a green hydrogen project in Denmark, which is set to be up and running at some point this month.
Read more: Siemens Gamesa to launch project to convert hydrogen from wind power
They are hoping to target key industrial players, including steelmakers, refineries and chemical companies in order to play a key role in decarbonising industries that otherwise rely on non-sustainable fuel methods.
In an exclusive interview with Reuters, Christian Bruch, chief executive of Siemens Energy, said: “It’s really about developing a commercially viable product. I don’t know any other company that combines wind energy, electrolysis and offshore high voltage technology all in one enterprise.”
Green hydrogen is developed by splitting water into its component molecules using renewably-generated energy, as opposed to its fossil-fuel-based alternatives.
The oxygen and hydrogen generated using electrolysis can then be easily stored.
The German government previously invested €9 billion into kickstarting various green hydrogen projects and have offered enthusiastic support for Siemens' newest project.
The French government has also pledged support for green hydrogen as a part of a €30 billion energy package.
Siemens has speculated a future project which could use this turbine technology to be located in the Baltic Sea - a major player for European offshore wind - with the potential to run at a capacity of 200-300MW, but will only be able to deliver the green hydrogen locally through a more traditional pipeline as opposed to power cables.
Other energy companies, such as a cooperative effort between Iberdrola and Fertiberia, have decided to break into green hydrogen as a way of creating cheaper renewable energy sources.
Read more: Iberdrola and Fertiberia to invest in massive green hydrogen project
The European Union is taking measures to attempt to cut greenhouse emissions by 55% by 2030, with the endgame of being completely carbon-neutral within the same deadline.
The UK has also pledged to have all homes in the nation powered by offshore wind by 2030.
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