- The agreement will give Masdar access to up to €2bn and broaden the hydrogen projects investment base for Hy24.
- Masdar is targeting one million tons of green hydrogen by 2030.
Masdar, an Abu Dhabi renewable energy company and Hy24, a clean hydrogen investor, have agreed to foster large-scale green hydrogen projects across various regions, including North Africa. The agreement will give Masdar access to a pipeline of up to €2 billion (approximately $2.1bn) in co-investment and co-development opportunities.
Masdar is targeting one million tons of green hydrogen production by 2030. The agreement will broaden Hy24’s investment base and role as a springboard for hydrogen projects at scale. The collaboration will involve producing renewable power converted via electrolysers into green hydrogen. Subsequently, it will produce hydrogen derivatives such as green ammonia, e-methanol, sustainable aviation fuel and liquid hydrogen.
The companies said they will focus on projects in major regional hubs across Europe, the Americas, Asia Pacific, the Middle East, and North Africa (MENA). The Hy24-managed “Clean Hydrogen Infrastructure Fund” expects that co-investment and co-development opportunities will be available to Masdar, representing up to €2bn of investments over the next five years.