Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Northern German states cooperate on 'Hy-5' hydrogen buildup

12/01/2020 | 04:38am EST

FRANKFURT (Reuters) - Five northern German states said on Tuesday they will work together to promote the development of hydrogen from renewable electricity and aim to install at least 500 megawatts (MW) of electrolysis capacity by 2025.

Green hydrogen is produced from electrolysis that relies on electricity generated from sources, such as wind and solar. Other hydrogen, produced using fossil fuels, is not carbon free.

"The new initiative aims at turning Northern Germany into the strongest emerging region for green hydrogen in the heart of Europe and to complete the value chain for green hydrogen," the states said in a statement.

Capacity should increase rapidly to reach at least 5 gigawatts (GW) by 2030, the group said, which has named the initiative Hy-5.

It consists of the states of Bremen, Hamburg, Mecklenburg-Vorpommern, Lower Saxony and Schleswig-Holstein.

The statement was released at the opening of the annual WindEnergy trade fair, which this year is being held digitally.

The northern region has ample onshore and offshore wind capacity, seaports with import facilities, demand for green energy from its industrial companies, and a head-start in hydrogen-related research, the group said.

The region also has gas storage caverns and a natural gas transport pipeline network that could be used for hydrogen.

Germany wants to end its reliance on coal and nuclear power and to harness renewables to decarbonise energy used in industry, transport and heating buildings.

(Reporting by Vera Eckert, editing by Barbara Lewis)


© Reuters 2020
Latest news "Economy & Forex"
09:28aGOVERNMENT OF PRINCIPALITY OF LIECHTENSTEIN : LLB boss Roland Matt departing for LGT
PU
09:16aFUEL CELL ENGINES : Driving Sustainable Business Change
PU
09:15aU.S. Home-Price Growth Accelerated in November
DJ
09:14aSecond European battery cell alliance includes BMW, Tesla - Altmaier
RE
09:13aGENESIS : Sees $7.6B in Digital Currency Loan Originations During Q4 2020
BU
09:13aSecuronix Partners with Non-Profit Educator NextGen Cyber Talent to Train Future Generation of Cybersecurity Professionals
BU
09:06aWALL STREET STOCK EXCHANGE : S&P 500, Dow to open higher on upbeat corporate earnings; Fed meeting in focus
RE
09:05aPARAMOUNT PROPERTY TAX APPEAL OFFERING A FREE NEW YEARS EVALUATION FOR AFFLUENT HOMEOWNERS & BUSINESS PROPERTY OWNERS, RE : ‘Feb 16 Changes to Tax Laws & Tax-Reduction Solutions’
SE
09:05aVistamar School Begins Construction on New Viking Commons
SE
09:04aOVERSTOCK PARTNERS WITH PELION VENTURE PARTNERS TO OVERSEE MEDICI VENTURES' BLOCKCHAIN ASSETS; OVERSTOCK TO BE LIMITED PARTNER IN BLOCKCHAIN FUND; INVESTOR CALL SCHEDULED FOR JANUARY 26, 2021, AT 8 : 30 a.m. ET
AQ
Latest news "Economy & Forex"