As the world grapples with the urgency of meeting climate targets, the UAE is forging its path ahead with an ambitious National Hydrogen Strategy, aiming to become a leader in low-carbon hydrogen production by 2031. At COP28, the panel "Financing the Clean Hydrogen Revolution" delved into how to find the capital needed to realize the potential of hydrogen.
Lead by Carl Clayton of Boston Consulting Group, the panel included Zest Associates Managing Director Jeffrey Beyer and a host of industry leaders: Sidd Manjeshwar of Air Products, Atanu Das of ACWA Power, Marc Luz of Masdar and Gido van Graas from First Abu Dhabi Bank.
Key Discussions
The panel tackled key questions surrounding the clean hydrogen revolution.
How feasible is hydrogen as a sustainable energy source at scale, and how important is it in reducing CO2 emissions?
Is there enough liquidity in the market for the short-term scale up of hydrogen projects?
How can governments and institutions provide the right incentives to foster hydrogen production?
Innovative Perspectives
Beyer highlighted MENA's strategic edge in hydrogen project development and financing. Manjeshwar shed light on Air Products' innovative hydrogen initiatives. Das brought a perspective on private sector hydrogen financing, complemented by Luz's experience in commercializing green hydrogen at Masdar. Van Graas discussed evolving market dynamics from his perspective at FAB.
Future Implications
The session illuminated the multifaceted impact of the emerging hydrogen economy, laying out a roadmap for GCC countries to leverage hydrogen energy by building collaboration between the public and private sectors and using hydrogen to green industries. It underlined the UAE's commitment to sustainable development and the precedent it is setting in hydrogen leadership.
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