Japanese trading house Mitsubishi Corp [8058:JP] plans to invest more than JPY100bn (USD690m) to build one of the world’s largest green hydrogen production facilities in the Netherlands, as reported by Nikkei Asia on January 14. Mitsubishi will collaborate with Eneco Diamond Hydrogen, a joint venture (JV) between Mitsubishi and Dutch major renewable energy company Eneco, for the production of green hydrogen. Mitsubishi will start construction of the electrolysis plant in 2026, with hydrogen production anticipated to commence in 2029. The projected manufacturing capacity of the plant would reach 80,000 tons annually, nearly 30 times greater than the current largest facility in operation globally. Notably, Mitsubishi already completed the acquisition of Eneco in March 2020.

The hydrogen plant will use renewable electricity generated from Eneco’s large offshore wind farm in the Netherlands. The JV will capitalize on Eneco’s electricity retailing network for hydrogen sales, delivering the eco-friendly fuel to manufacturing and power enterprises across Europe through pipelines. Additionally, the JV will leverage Mitsubishi’s extensive expertise in oil refining, chemicals, steel, and marine transport to meet the booming global demand for green hydrogen. The EU has set ambitious targets to increase both its production and imports of green hydrogen to 10 million tons per year by 2030. Through the investment, Mitsubishi aims to refine technologies needed for the commercialization of hydrogen production and supply in Europe, which is at the forefront of green hydrogen development, and apply them for global expansion.

Sources:

https://asia.nikkei.com/Business/Energy/Japan-s-Mitsubishi-eyes-massive-green-hydrogen-plant-in-Netherlands

https://www.techtimes.com/articles/300599/20240114/mitsubishi-invest-100-billion-yen-mega-green-hydrogen-plant-netherlands.htm

https://www.mitsubishicorp.com/jp/en/pr/archive/2023/html/0000051535.html