In India, Solar Quarter reported that the International Renewable Energy Agency (IRENA) has released a detailed analysis exploring the techno-economic potential for global trade in green hydrogen and related commodities like ammonia, e-methanol, and direct reduced iron (DRI) by 2050. The report evaluates potential trade flows using a cost-optimization model under two main scenarios: one where all countries have the same weighted average cost of capital (WACC) and another with country-specific WACC values. Latin America, the Middle East, North Africa, and sub-Saharan Africa emerge as major exporters due to their abundant renewable energy resources. Europe, Japan, the Republic of Korea, and Southeast Asia are projected to be large importers, while countries like China, the United States, and India are relatively self-sufficient, according to the report. According to the analysis, the overall volume of green hydrogen and related commodities traded globally in 2050 is expected to reach around 53 million tons of hydrogen equivalent per year, or roughly 20% of the total projected demand of 260 million tons, the report added.
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