Uniper Says Working with UAE's Masdar on Hydrogen Project
(Reuters) — German utility Uniper on Thursday said it was involved in a project with the United Arab Emirates (UAE) clean energy company Masdar to produce green hydrogen, confirming a report on Bloomberg.
The Berlin government this week completed a 34.5 billion euro ($36.55 billion) bailout of Uniper, following European Commission approval, a nationalization made necessary because of Uniper's exposure to surging gas prices following Russia's invasion of Ukraine.
The war has sharpened Germany's focus on security of supply and the use of green hydrogen produced using renewable energy that is compatible with European Union climate goals.
It expects to need imports to complement domestic production.
A spokesperson for the Duesseldorf-based firm said Uniper is actively involved in large-scale hydrogen projects in the Middle East, with a view to exporting hydrogen to Europe and Asian markets.
"The project in UAE with MASDAR has already seen impressive public support," the spokesperson said, adding Uniper declined to provide further detail at this stage.
The Bloomberg report said that Masdar and Uniper will build a 1.3 gigawatt solar plant from which they expect to produce clean hydrogen via electrolysis from 2026, citing an interview with Masdar's executive director for clean energy, Mohammad Abdelqadar El Ramahi.
($1 = 0.9439 euros)
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