Mizuho Financial, one of Japan’s largest banks, has outlined its near-term investment strategy for the “production and supply of hydrogen and related technologies by 2030”. Mizuho is offering ¥2 trillion worth of financing that will be committed to various projects and players globally, and is also engaged in various hydrogen and ammonia initiatives.
Fifty percent of phase one production will be supplied to Yara Clean Ammonia from Greenko’s planned production facility in Kakinada, southern India. The offtake agreement covers “long-term supply” of ammonia, which will be compliant to EU import requirements.
In our April episode of Project Features, 8 Rivers joined us to discuss its 8RH2 technology for gas-based hydrogen production with carbon capture rates beyond 99%. As well as the technology itself, we explore the Allam-Fetvedt cycle, the deployment of 8RH2 to produce ammonia in Texas, and 8 Rivers’ future plans.
2024 has already been a busy year, with ammonia discussions at an exciting phase. Despite the hesitancy and doubts about ammonia I have heard at recent events, I continue to deliver the same constructive messages, and urge the AEA membership and networks to use the information available to continue to promote ammonia. Our upcoming annual event in New Orleans will explore progress in establishing ammonia markets, and I can’t wait to see you all again in-person.
Hydrom, Oman’s dedicated government development vehicle for low-carbon hydrogen, has awarded land to two projects. Actis and Fortescue will develop about 4.5 GW of wind and solar energy to power the production of more than 1 million ton tons of ammonia per year. With the same wind and solar energy capacity, EDF, J-Power and Yamna will develop a similarly-sized, 1 million ton per-year ammonia plant.
H2Carrier intends to develop two wind farms in far northern Norway with a combined capacity of 1.55 GW, which will power offshore hydrogen and ammonia production.
Nel will supply over 1 GW of alkaline electrolysers for Hy Stor Energy’s hydrogen production and storage hub project in Mississippi, USA. In other electrolyser news, Cepsa and Allied Green Ammonia have picked technology providers for their under-development projects in Spain and Australia.
Incentivised by the US government’s Inflation Reduction Act, Topsoe plans to build a 1 GW solid oxide electrolysis cell manufacturing plant in Virginia. Combined with its existing SOEC factory in Herning, Denmark, the new factory will make Topsoe the largest SOEC manufacturer globally.
The European Hydrogen Bank has awarded nearly €720 million to seven renewable hydrogen and ammonia projects. The funding will act to bridge the price gap between the cost of hydrogen production and the price buyers are willing to pay. Recipients will receive €0.37 - €0.48 in subsidies per kilogram of renewable hydrogen, and will collectively produce 1.58 million tons of renewable hydrogen over ten years. In conducting a transparent auction process, the European Commission has also provided vital insights into trends in demand for renewable hydrogen and ammonia.
Kenya aims to substitute 50% of current, ammonia-based fertilizer imports with locally-produced alternatives, based on the production of electrolytic hydrogen. New guidelines from Kenya’s Energy and Petroleum Regulatory Authority set carbon intensity thresholds for “green” hydrogen and ammonia, as well as the incentives on offer for project developers. The new launch follows commitments to promote local fertilizer production made by heads of state at the Africa Fertilizer and Soil Health Summit. We also explore two existing renewable projects in Kenya from Maire Tecnimont and Talus Renewables.