Europe's $2.6 billion Green Hydrogen Project approved for production within the next five years
Carbon emission and climate change movements gathered huge momentum as the world realised there is no denying the diverse ways humans affect the planet. From renewable energy to ceasing fossil fuel burn has been considered in terms of our energy consumption.
By 2025 or 2026, Iberdrola and H2 Green Steel will be starting the hydrogen project, and an estimated budget of $2.6 billion is set for making the plan reality.
International Energy Agency (IEA) said: "The steel sector is currently the largest industrial consumer of coal, which provides around 75% of its energy demand."
Hydrogen is vast and plenty around us; in fact, it is the most abundant element found throughout the universe. The sun is mainly made of hydrogen, and almost every living organism on earth contains hydrogen. But pure hydrogen is rare in our ecosystem, and to get that, we need to go through a unique process. Such as breaking water molecules or other elements.
The hydrogen-powered vehicle first became popular when NASA sent spacecraft that used it. The element can be the source of green energy if we can cut out the middle ground. At the moment, fossil fuel is burned to get hydrogen.
To some, it seems useless, but a few think the procedure connects us to the next level of energy. It will genuinely be the greenest energy if we can utilise a complete climate-friendly process such as wind turbines or water energy to get the element. Emission from a hydrogen-powered mechanic is pure drinkable water, which is fascinating.
Regarding what we said, Europe is taking the step further by setting up a plant as the Hydrogen Project. The plant's location isn't revealed yet, but the progression seems promising. Since climate saving measures are given much priority, significant businesses, organisations got involved around green hydrogen projects.
Iberdrola, a Spanish power company partnering with Sweden's H2 Green Steel, planned to produce steel with hydrogen-powered machinery. An announcement has been made of 2.3 billion euros ($2.6 billion) to create a 1 gigawatt capacity of electrolysis.
Hydrogen can be produced in multiple ways, and many applications can benefit from it. As we said before, the current technology that produces hydrogen uses fossil fuel. That is not green or renewable hydrogen. But the green hydrogen project from Iberdrola and H2 Green Steel with green energy.
The collaboration of both companies will generate roughly 2 million tons of iron every year to produce steel without affecting the environment. International Energy Agency reports 0.3 GW of electrolyzer capacity was gained within 2020.
According to the European Commission (EC.europea), Europe's hydrogen projects are expanding on a massive scale. The European Clean Hydrogen Alliance and European industry feature over 750 hydrogen projects to achieve total efficiency in green energy parameters.
All countries are coming forward to participate in the global carbon emission challenges. Energy is a must-have part of our life, and there is no denying fossil fuels such as natural oil and gas made it easy. But the rate of consumption is too great and is hurting global health.
Europe's full-tilt movement towards hydrogen energy is genuinely fascinating, and there is no democratic debate regarding industry-level adaptation.
Iberdrola's liberalizsd business director Aitor Moso said: 'a critical technology in the decarbonisation of heavy industrial process such as the production of steel.' He also talked about the speedy process to commercialise 'larger and more sophisticated electrolyzers, making green hydrogen more competitive.
The EU and hydrogen alliance are partnered to support clean hydrogen technologies' large-scale deployment by 2030. The supportive regulatory framework is under development, and more than 600 projects are planned to enter the operation phase by 2025.