UAE-based clean energy company Masdar has signed a memorandum of understanding with Austrian electricity utility VERBUND for the production of green hydrogen. The two companies will focus on creating new ways to produce green hydrogen and export it to Central Europe, particularly Austria and Southern Germany.Last year, Masdar announced the establishment of its new green hydrogen business, with a goal of producing 1 million tonnes of green hydrogen per annum by 2030.Based in Vienna, VERBUND is one of Austria’s primary energy utility companies and one of the largest producers of hydropower in Europe. VERBUND generates close to 100 percent of its electricity from climate-friendly, renewable energy, primarily hydropower, complemented by wind and solar, and is also active in energy transmission and international trading. It believes green hydrogen will become a crucial building block to decarbonize industry and transport in Europe and has already launched several flagship projects to expand its value chain into green hydrogen.
UAE-based clean energy company Masdar has signed a memorandum of understanding with Austrian electricity utility VERBUND for the production of green hydrogen. The two companies will focus on creating new ways to produce green hydrogen and export it to Central Europe, particularly Austria and Southern Germany.Last year, Masdar announced the establishment of its new green hydrogen business, with a goal of producing 1 million tonnes of green hydrogen per annum by 2030.Based in Vienna, VERBUND is one of Austria’s primary energy utility companies and one of the largest producers of hydropower in Europe. VERBUND generates close to 100 percent of its electricity from climate-friendly, renewable energy, primarily hydropower, complemented by wind and solar, and is also active in energy transmission and international trading. It believes green hydrogen will become a crucial building block to decarbonize industry and transport in Europe and has already launched several flagship projects to expand its value chain into green hydrogen.
