Frankfurt, Germany – Uniper on Thursday confirmed a Bloomberg report that it is involved in a project to produce green hydrogen with Masdar, the UAE’s clean energy company, Reuters reported.
Upon the approval of the European Commission, the Berlin government this week completed a 34.5 billion euro ($36.55 billion) bailout for Uniper, a nationalisation made necessary by Uniper’s exposure to soaring gas prices following Russia’s invasion of Ukraine.
Germany has intensified its focus on energy security and the use of green hydrogen produced from renewable energy compatible with EU climate goals since the war.
It reckons that the domestic production will need to be supplemented by imports.
Uniper, based in Duesseldorf, is currently working on large-scale hydrogen projects in the Middle East, with the goal of exporting hydrogen to Europe and Asia.
According to Bloomberg, Masdar and Uniper will build a 1.3 gigawatt (GW) solar plant from which they expect to produce clean hydrogen via electrolysis from 2026.