UAE, HYCAP Group sign MOU for green hydrogen project
They will also develop an industrial complex for green hydrogen, RE value chain.
The Abu Dhabi Department of Economic Development (ADDED) and HYCAP Group signed a Memorandum of Understanding to collaborate on developing the production, storage and transport of green hydrogen, including the establishment of an industrial complex.
In a statement, HYCAP said the industrial complex will be dedicated to industries related to hydrogen and renewable energy sources to support the value chains within the sector.
“The complex will contribute to the development of Abu Dhabi’s sustainable industrial sector and the goals of the Abu Dhabi Industrial Strategy, which seeks to develop value chains for targeted sectors. It will also consolidate Abu Dhabi’s position as the region’s most competitive industrial hub,” it said.
This will also support reaching the country’s National Hydrogen Strategy which targets to be a top 10 green hydrogen producer by 2031 with an output target of 1.4 million tonnes annually.