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The UK has 17GW of hydrogen production capacity forecast to come online by 2030, with green hydrogen accounting for less than 3GW. In analysis from Westwood Global Energy Group, the UK pipeline comprises 45 blue and green hydrogen projects in the pipeline, with blue hydrogen accounting for 14.3GW out of 17GW and green hydrogen accounting for 2.6GW. In contrast to blue, green hydrogen accounts for a much smaller capacity and capacity is “much more fragmented”, with smaller project sizes and a higher number of developers, Westwood highlighted. The study shows that only a small number of demonstration-sized green hydrogen projects have reached final investment decision (FID). It stated that the execution of a successful hydrogen economy “rests on government shoulders and cross-value chain collaboration”. The consultancy also said “strong, streamlined, and timely” government policies will be key for industry success. Joyce Grigorey, Director of Hydrogen at Westwood, said: “Global competition is quickly heating up and any delay in the government’s steer could have adverse consequences for the UK’s hydrogen ambitions should investors believe they can gain higher returns elsewhere. “But with a collaborative push the UK could become a leader of a successful hydrogen economy, with significant strides already being made across blue and green hydrogen, and carbon capture and storage.” |
