Masdar and Hy24 have signed a strategic joint development and investment framework agreement to foster large-scale green hydrogen projects, according to a news release.
Masdar and Hy24 agreed a framework to explore the development and investment in projects along the Power-to-X value chain, which involves producing renewable power converted via electrolyzers into green hydrogen and, subsequently, its derivatives such as green ammonia, e-methanol, sustainable aviation fuel and liquid hydrogen. The companies will focus on projects located in key regional hubs across Europe, the Americas, Asia Pacific and the Middle East and North Africa (MENA).
The Hy24-managed “Clean Hydrogen Infrastructure Fund” expects that co-investment and co-development opportunities will be made available to Masdar, which could represent up to €2bn of investments in the next five years. Green hydrogen will play a key role in enabling faster and more widespread global adoption of renewable energy, helping the planet to meet net-zero goals.
The agreement reinforces Hy24’s role as a catalyst in fostering the hydrogen economy and will leverage Masdar’s 20 GW of renewable energy projects worldwide, enabling the two leaders to target exploration of larger transactions and project developments across broader geographies at scale and pace. The agreement will also open new investment opportunities for Hy24 in the Middle East and North Africa and benefit from Ardian’s long-standing partnerships established in the region under the leadership of François-Aïssa Touazi (Chairman Ardian Ltd, Abu Dhabi). Hy24 is a joint venture between Ardian, Europe’s largest private investment house, and FiveT Hydrogen, a clean hydrogen investment platform.
