Hy2gen will jointly identify the potential for generating renewable hydrogen from offshore wind energy in collaboration with Ocean Connect Energy (OCE).
Under a Memorandum of Understanding (MOU), the two companies will explore, evaluate and develop suitable sites for Hy2gen to produce renewable hydrogen and its derivatives from offshore wind energy in “the gigawatt range,” which OCE is developing in the US and globally.
The 10-month working group aims to support areas that could be hindered by limited grid transmission, low electricity demand and other factors.
“Where renewable hydrogen production can be established near an existing offshore wind energy connection, we have the potential to create a predictable and sustained demand for the energy, reducing the need for new grid transmissions, making infrastructure investments less extensive and accelerating the implementation of wind energy projects,” explained David White, President of Hy2gen US.
As part of its strategy, Hy2gen aims to produce 100% renewable fuels that meet the industry’s highest standards, whilst also becoming the most reliable provider of renewable hydrogen and its derivatives.
White added, “We have set specific targets and timelines to secure and monitor our joint progress. We are determined to bring our projects to life as quickly as possible.”
OCE wants to establish a supply-demand relationship with Hy2gen, to create the reliability and trust needed to drive development forward.
Kevin Banister, OCE Managing Director, said, “With its high capacity factor and ability to be built on a large scale, offshore wind energy has an excellent energy profile to meet the electricity demand of the key element of the energy sector: the production of renewable hydrogen.”
“Done right, the combination of the two can lead to efficient project development and capital allocation.”
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