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FRANKFURT (Dow Jones) – Electricity producer RWE wants to play a major role in the future topic of hydrogen. “The potential for hydrogen is huge – and RWE is expecting great opportunities in the business,” CEO Rolf Martin Schmitz told the Handelsblatt. “Hydrogen is a big topic for us.” According to Schmitz, the group wants to get involved in both the production and trading of hydrogen.
Hydrogen is considered a great source of hope in order to drive the energy transition further. Industry in particular needs hydrogen to replace fossil fuels and reduce CO2 emissions. The Federal Government recently launched a huge funding program with the National Hydrogen Strategy. “RWE is very well positioned for the business,” said Schmitz: “We have a lot of expertise in the group that gives us an advantage when doing business with hydrogen.” RWE has renewable energies to produce hydrogen and the necessary technical know-how. The Group’s gas storage facilities would be able to store hydrogen.
Schmitz also sees a high demand for imports because Germany itself cannot produce enough green hydrogen. “Our trading department can buy and trade hydrogen around the world,” he said.
The electricity producer has been pursuing hydrogen projects for some time. A 100 megawatt plant for the production of hydrogen is planned in Lingen, Lower Saxony. According to Schmitz, RWE wants to fundamentally advance the topic of hydrogen in the areas of renewable energies, trade and generation: “But we will also build a small unit that is in the hands of the authorities.”
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(END) Dow Jones Newswires
July 05, 2020 03:33 ET (07:33 GMT)