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    ADNOC And Masdar Sign Agreeements ToAcquire Stakes In Hydrogen Projects In UK


    May 25, 2022 - Fitch Solutions Sector Intelligence

     

      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      ADNOC And Masdar Sign Agreeements ToAcquire Stakes In Hydrogen Projects In UK

      • 25 May 2022
      • United Kingdom
      • Infrastructure

      News: Abu Dhabi National Oil (ADNOC) and Abu Dhabi Future Energy (Masdar) have signed agreements to acquire stakes in bp's hydrogen projects in the UK. ADNOC signed an agreement to acquire a 25% stake in the design stage of a blue hydrogen project—H2Teesside. The facility would feature two units of 500MW hydrogen production units. Operations are scheduled to start in 2027. Masdar signed a memorandum of understanding to acquire stake in a proposed green hydrogen project—HyGreen Teesside. This proposed facility is planned to produce 60MWe of hydrogen and could be increased to around 500MWe by 2030, according to a press release from bp. Operations are slated to start in 2025.

      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.

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