France-headed Lhyfe, a pioneering producer and supplier of green and renewable hydrogen for mobility and industry, and Abu Dhabi Future Energy Company PJSC – Masdar, the United Arab Emirate's (UAE) clean energy leader, have signed a Memorandum of Understanding (MoU) to explore potential co-development opportunities in large-scale green hydrogen production projects in Europe.
Through this strategic partnership, the two companies aim to explore collaboration and investment opportunities across the green hydrogen value chain, with a focus on co-developing large projects.
This collaboration between Lhyfe and Masdar, two of the leading pioneers in the green hydrogen space will leverage their complementary abilities and support their ambitions to drive and develop the sector.
Proven track record
Lhyfe is one of the pioneers in the green hydrogen sector and is one of the fastest-growing players.
Established in 2019, it has already has four installed green hydrogen production sites in Europe, and several other sites under construction. The company has demonstrated its industrial capacity to build and operate production sites of increased capacity.
Lhyfe’s pipeline of projects represents a total installed capacity of 9.5 GW and includes several large-scale projects at advanced stages and ready to accelerate. Its proven record as one of the largest developers and operators of commercially active green hydrogen projects in Europe was key for Masdar’s decision to enter into the MoU.
Masdar is one of the most important developers of renewable energies, with real expertise in green hydrogen and a strong lead in terms of deployment. This is evidenced by the large number of industry awards received since 2007 for its renewable energy projects and commitment to innovation. We have a common ambition: to decarbonize the industry on a massive scale and as quickly as possible thanks to green hydrogen. By combining our complementary expertise, we want to accelerate the deployment of large sites, which have the capacity to make a difference in greenhouse gas emissions, said Matthieu Guesné, Founder and CEO of Lhyfe,
Masdar is aiming for a renewable energy portfolio capacity of 100 GW by 2030, supporting the target set in the UAE Consensus to triple global renewables capacity by the end of this decade, and aims to be a leading producer of green hydrogen in the same timeframe.
It is targeting 1 million tonnes per annum of green hydrogen or equivalent derivatives in the UAE and globally within a decade.
Masdar is committed to advancing the development of green hydrogen around the world and we believe Europe will be a significant player in the future green hydrogen sector. This collaboration with Lhyfe will enable us to leverage our shared expertise and resources to explore pathways to accelerating development and potentially supporting our ambitious growth plans, said Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer, Masdar.
