UPD Renewables negotiates green hydrogen project in Ukraine with European investor
In Ukraine, Ukraine Business News reported that Ukrainian company UDP Renewables is currently negotiating with a European investor the development of a green hydrogen project, which encompasses the entire production cycle – from electricity generation to hydrogen production and export.
UDP Renewables and an Austrian company are close to finalizing an agreement. This potential partner could function both as an investor and as a buyer of hydrogen, which would be supplied to the EU. The project aims to produce approximately 50,000 tons of hydrogen gas per year, according to the report.
The production facility will be situated in the Volyn region, which is rapidly developing its wind energy sector, ensuring stable access to cheap green electricity, the report added.
To facilitate hydrogen exports to the EU, UDP Renewables plans to utilize the existing capacities of the Ukrainian gas transportation system, pending necessary technical modernization.
Category: Hydrogen
