Offshore Hydrogen Production: Plug Power to Develop And Supply 10 MW Electrolyzer For HOPE Project
Latham, USA - As a member of the nine-company HOPE (Hydrogen Offshore Production Europe) consortium, U.S. fuel cell and hydrogen company Plug Power will develop and supply a 10-megawatt (PEM) electrolysis system for a site in the North Sea off the port of Ostend in Belgium.
The HOPE project will produce up to four tons of green hydrogen per day offshore and then transport it by pipeline onshore, compress it and deliver it to mobility and small industry customers in Belgium, northern France and the southern Netherlands within a radius of less than 200 miles. The production unit and export and distribution infrastructure are expected to be operational by mid-2026.
The HOPE project is located in the Belgian part of the North Sea in the offshore test area near the port of Ostend, Belgium, less than a mile from the coast. The electrolyzer will be powered by green electricity supplied under PPA contracts. The water used for electrolysis is to be pumped from the North Sea, desalinated and purified.
The grant, covering a period of five years, will be used to finance the design phases, the supply of equipment and the construction work, as well as research, development and innovation work focusing on optimizing technological solutions and the operation of this type of infrastructure. The techno-economic analysis of large-scale offshore renewable hydrogen production solutions will be part of the grant.
Plug Power's shares fail to benefit, losing 2.3 percent to 8.208 euros so far today (4:21 p.m., 06/27/2013, Stuttgart Stock Exchange). Compared to the share price at the turn of the year, the RENIXX Group is thus currently down 28 percent.
Source: IWR Online, 27 Jun 2023
