A new $5bn strategic alliance formed between ENGIE and Masdar will aim to establish a UAE-based giga-scale green hydrogen hub that will provide a significant boost to the region’s hydrogen capabilities.
With this, the two companies will identify and develop projects with a capacity of at least 2GW by 2030 with the $5bn fund expected to support this.
Read more: UAE’s Hydrogen Leadership Roadmap targets 25% of the global hydrogen market by 2030
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Speaking on the agreement, ENGIE has said that the partnership will aim to capture the hydrogen synergies and complementarities with Masdar to create a leadership position within the UAE’s hydrogen market.
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