RWE and Equinor have signed a strategic partnership for energy security and decarbonization
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RWE, a German energy company, has signed a strategic partnership agreement with Equinor to build three gigawatts of new gas power plants equipped with combined-cycle gas turbines (CCGTs) technology by 2030. This will help by contributing to the phase-out roadmap for coal in Germany. Equinor aims to invest in clean hydrogen projects in Europe, with an initial 2 gigawatts of blue hydrogen production capacity in Norway by 2030 and up to 10 gigawatts by 2038. The blue hydrogen will be transported through a pipeline to Germany, and RWE will use the blue hydrogen for CCGTs. This initiative will help Norway become a key hydrogen supplier to Germany and Europe.
Green and blue hydrogen are anticipated to act as a bridge between many different sectors of the economy. It can help accelerate the decarbonization of hard-to-abate sectors while promoting sustainable growth in the developing world. As the world envisions a low-carbon growth path to reduce the economy’s carbon emissions intensity, the possibility of developing low-carbon hydrogen is evident. So, the decisive action of RWE and Equinor will build up the long-term energy security for Europe and ramp up the hydrogen economy in Germany and Europe.
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