North Africa has big potential for green hydrogen: Report

North Africa has big potential for green hydrogen: Report

PARIS: By 2050 North Africa could become a leading exporter of green hydrogen with Europe its main market, according to a recent report projecting the future of an industry still in its infancy. So-called green hydrogen is set “to redraw the global energy and resource map as early as 2030, creating a $1.4 trillion-a-year market by 2050,” according to the report from accounting consultancy Deloitte.

Hydrogen fuel—which can be produced from natural gas, biomass or nuclear power—is considered “green” when hydrogen molecules are split from water using electricity derived from renewables such as solar and wind that do not produce carbon emissions. Less than one percent of the world’s hydrogen production presently qualifies as green. But the climate crisis—coupled with both private and public investment—has sparked rapid growth in the sector. The Hydrogen Council, a lobbying group, lists more than a thousand hydrogen projects in the pipeline worldwide.

Projects launched before 2030 would require about $320 billion in investment, the Council said. By 2050, according to Deloitte, the main green hydrogen exporters are likely to be North Africa ($110 billion per year), North America ($63 billion), Australia ($39 billion) and the Middle East ($20 billion). Management consultancy reports can be assumed to