Current hydrogen plans and implementation don’t match, according to the recent IEA report “Renewables 2023”. Renewable power capacity for hydrogen production is forecast to grow by 45 GW between 2023 and 2028, representing only an estimated 7% of announced project capacity for the period. China, Saudi Arabia and the United States account for more than 75% of renewable capacity for hydrogen production by 2028. Despite announcements of new projects and pipelines, the progress in planned projects has been slow. The main reason is the slow pace of bringing planned projects to final investment decisions due to a lack of off-takers […]
