Paddy Padmanathan, CEO of ACWA Power, revealed that ACWA Power’s first green hydrogen plant will operate in 2026.
On the sidelines of the World Economic Forum in Davos, Padmanathan stressed the importance of green hydrogen and its role in reducing emissions and carbon.
“I know there are a lot of doubts about the real green hydrogen, and it’s very expensive, and we should all be thankful that the green hydrogen molecule is real and works, because it’s the only solution to remove at least 20% of emissions and carbon,” says Padmanathan.
He said that in heavy industries and long-distance transportation, it is green hydrogen that will work, as with the low cost of renewable energy, and with its abundant resources, we are able to use it with the water electrolysis device to produce green hydrogen.
He added that the first green hydrogen production plant, when it is operational in 2026, will produce more than what is being produced in the entire world today, and this plant has a market in Southeast Asia and in Europe due to the energy crisis.
“We will produce 650 tons per day of green hydrogen that will be converted into green ammonia, and we will ship 1.15 million tons of liquid ammonia,” according to the CEO of ACWA Power.
He explained that about 100 million tons, less or slightly more than this number of hydrogen or what is called gray hydrogen (it is called gray hydrogen because it is produced from oil, gas and coal) is used for fertilizers, chemicals and many other uses.
He continued, “45 million tons of hydrogen is used for fertilizers alone. We are building a factory that produces 1.15 million tons only to serve the fertilizer market, and we need 45 factories of this kind.”