(MENAFN) In a joint declaration released on Tuesday, British oil giant BP, Abu Dhabi National Oil Organization (ADNOC), and Abu Dhabi future energy corporation Masdar announced a partnership to establish sustainable hydrogen and technology centers.
ADNOC is going to make its first investment in the United Kingdom by taking a 25 percent ownership in bp's blue hydrogen project, H2Teesside, which is projected to jumpstart the United Kingdom's hydrogen industry at scale by 2030 with the building of two 500-megawatt hydrogen output blocs. Moreover, The project is scheduled to begin operations in 2027.
Masdar, an Abu Dhabi-based renewable energy corporation, has also agreed to buy a share in BP's proposed green hydrogen scheme, HyGreen Teesside. Starting in 2025, this scheme is going to create 60 MWe (megawatt electrical input) of hydrogen, escalating to 500 MWe by 2030.
MENAFN25052022000045014146ID1104272344
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.