Pathfinder Clean Energy has entered the UK green hydrogen market through a submission into the Government’s Hydrogen Business Model and Net Zero Hydrogen Fund: Electrolytic Allocation Round for 2022.
PACE is active in the clean energy market across UK, Canada, Poland and Spain and increasing its business development across further international markets and technologies. This is the first commitment to the green hydrogen sector.
Ben Chippendale, Analyst at PACE said, ‘The global green hydrogen market has considerable international government support and could be worth over £60bn by 2030. This joint allocation round is a key milestone for the UK’s green hydrogen industry and will serve as an important catalyst for empowering companies to gain access to private investment across the emerging market. PACE has submitted projects into the process which they believe could be hydrogen enabled by 2025. Alongside the submission, we have signed initial MoUs with both financing and offtake partners who will be actively supporting the ongoing development of these hydrogen projects through to deployment.
PACE continues to review its 1.5GW advanced UK development pipeline for additional projects for this technology combination.
Rob Denman, Managing Director of Pathfinder Clean Energy said: “PACE is one of the leading developers across the UK utility scale solar and energy storage market. This joint allocation round was one we considered we should participate in as we look at ways we can continue to innovate and improve the ways that we can assist the UK to achieve its net zero targets and improve cost competitive energy security’.
‘To achieve the UK’s net zero targets and also improve energy security at the lowest price to the country we must advance utility scale solar, onshore wind, energy storage and green hydrogen. That is why PACE is committing to all. Green hydrogen has been presented as part of the solution for over 70 years so is an established technology and if we can combine this with clean energy generation and the demand and with the right support and strategy it could be an important part of the way we power a clean future. We hope this is the first step for the UK Government to support the integration of green hydrogen with utility solar and onshore wind.’
PACE has agreement with a leading logistics firm to provide the demand for the green hydrogen generated if successful in the process and is in negotiation with further industrial and logistics companies.This government process is for projects to connect by 2025 but PACE is also exploring opportunities for green hydrogen outside of this government support framework.