Japanese trading giant Mitsubishi Corporation has announced a staggering investment of over 100 billion yen (approximately $690 million) to establish one of the world's largest "green" hydrogen production plants in the Netherlands, Nikkei Asia reports.
This colossal venture, undertaken by Mitsubishi and its subsidiary Eneco, seeks to revolutionize the hydrogen landscape by leveraging renewable energy sources and cutting-edge technology.
This picture taken on April 18, 2023 shows the Green Hydrogen Plant built by Spanish company Iberdrola in Puertollano. - From Andalusia to the Basque Country, green hydrogen megaprojects are multiplying in Spain, a leading country in this promising sector. A bet, while the economic model for this energy of the future remains to be found. (Photo by Valentin BONTEMPS / AFP)
A Green Hydrogen Future
Green hydrogen, produced through water electrolysis using electricity derived from renewable sources, is hailed as a game-changer for a carbon-free future.
Mitsubishi's ambitious project aims to refine the commercialization know-how, focusing on areas like production and supply in Europe, a continent leading the charge in green hydrogen development. This knowledge will then be utilized to propel global expansion, ushering in a new era of clean fuel alternatives.
Production Plans
Eneco Diamond Hydrogen, a joint venture between Mitsubishi and Dutch renewable energy powerhouse Eneco, will spearhead the production. The plant's construction is set to commence in 2026, with hydrogen production slated for 2029.
The anticipated annual capacity of 80,000 tonnes is a significant leap, nearly 30 times greater than the current largest facility globally.
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Sustainable Energy Source
The hydrogen production process will tap into Eneco's extensive offshore wind farm in the Netherlands, ensuring a sustainable and clean energy source.
The hydrogen produced will be distributed through Eneco's retail electricity sales network, reaching manufacturing and power businesses across Europe via pipelines. This integrated approach is a key step towards achieving widespread adoption of green hydrogen.
Addressing Cost Challenges
While the benefits of green hydrogen are evident, the cost has been a significant hurdle. Producing green hydrogen is currently costing between 3 and 8 euros per kilogram, substantially higher than the 1 to 2 euros per kilogram for hydrogen derived from fossil fuels.
Mitsubishi aims to overcome this challenge through mass production, with a keen eye on reducing costs and promoting the broader adoption of sustainable practices.
Global Trends and Future Prospects
As the European Union strives to increase its annual green hydrogen capacity to 10 million tonnes by 2030, Mitsubishi's venture positions itself as a critical player in the global green energy landscape.
Additionally, this bold move is likely to stimulate further activity among Japanese businesses involved in hydrogen development, fostering a competitive environment for technological advancements.
In Other News
In other news, Japan's space efforts have reached new heights with the successful launch of the Information-Gathering Satellite "Optical-8" aboard Mitsubishi Heavy Industries' H-IIA rocket (via Interesting Engineering).
This accomplishment demonstrates Japan's dedication to advancing space exploration and satellite technology. However, amid these victories, geopolitical tensions in East Asia have emerged, with neighboring countries making significant advances in space capabilities.
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