Arabian Business: Green Hydrogen Can Fuel The Region’s Future

by brad

Green hydrogen will help the global economy achieve its sustainability goals and tackle the issue of climate change with a new sense of hope. It is poised to offer:

– Long-lasting energy solutions
– A cheaper and safer alternative to fossil fuels
– The opportunity for heavily carbonized industries to finally go green.

Cranmore Partners has been at the forefront of green hydrogen commercial and financial structuring.

To learn more about the benefits of green hydrogen, we are pleased to introduce this article, written by Founder and Managing Partner of Cranmore Partners, Yusuf Macun for Arabian Business. He speaks about what exactly green hydrogen is, how it works, and how collaborations like the MENA Hydrogen Alliance and HyDeal Ambition are creating a more sustainable future.

Green hydrogen can fuel the region’s future

As the GCC countries continue their ambitious plans to diversify their economies away from oil and gas, the region shows a growing interest in the development and potential of the emerging green hydrogen sector.

Fully leveraging green hydrogen to power the economy sustainably would give the region a competitive edge, in a world where reduced CO2 emissions are becoming a requirement as well as a condition to survival.

Unlocking green hydrogen’s decarbonising potential

As an energy vector, green hydrogen has the potential to decarbonise entire swathes of the industry, including hard to decarbonise sectors that require high energy density fuel or industrial scale heat, such as refining, steel, and heavy transportation. However, cost and transport are the fundamental factors that are likely to determine the wide-scale adoption of green hydrogen, at a time where government budgets will be focused on recovery in the aftermath of Covid-19.

The levelised cost of green hydrogen (LCOH) includes the cost of renewable electricity, water and electrolysis, in addition to, where applicable, storage, and transportation. As the industry begins to gain ground, production should first occur near consumption centres to keep transportation investment requirements and costs manageable. Consumers may also face expenditure associated with the technology conversions required to switch from other fuels to hydrogen.

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Yusuf Macun speaking at Dii Energy Summit

by brad

Cranmore Partners’ Managing Director Yusuf Macun recently spoke at Dii Desert Energy Summit 2021, and as the latest Associated Partner of the MENA Hydrogen Alliance, we are excited to continue driving the discussion forward about energy transition, including the vast potential of renewables and green hydrogen, in Northern Africa and the Middle East.

Yusuf spoke about establishing bankability parameters for future green hydrogen projects, with a focus on capturing synergies between the Europe and MENA markets, both strategic priorities for Cranmore.

Working with MENA Hydrogen Alliance, Cranmore Partners is committed to facilitating the next generation in energy transition for the Middle East.

PFI League Tables

by brad

Cranmore Partners ranked 11th globally (8th in EMEA and 9th in Asia Pacific) on Project Finance International (PFI)’s annual league tables for advisory mandates won in 2020.

In terms of closings, despite Covid-19, with our iconic Fujairah 3 IPP Financing in UAE, Enerjisa Refinancing in Turkey, and Scaling Solar Nur Navoi Solar Financing in Uzbekistan, representing c. USD1.8bn, we ranked 30th globally.

The PFI annual league tables provide an accurate and comprehensive snapshot of global project finance activity. Consistency in our league table positions in 2019 and 2020 demonstrate that despite our youth, we are relevant within the global project finance scene.

We look forward to maintaining and improving on these achievements with a strong start in 2021.

HyDeal Ambition

by brad

Cranmore Partners is honored to announce the launch of HyDeal Ambition, which aims to deliver 100% green hydrogen across Europe at €1.5/kg1before 2030. Joining a consortium of 30 trailblazing European energy players, Cranmore will act as a consultant and advisor for this critical renewable energy initiative built on two years of careful research, analysis, and design.As a series of projects producing and delivering green hydrogen through solar-driven electrolysis throughout Europe, HyDeal Ambition will balance renewable energy generation with customer-conscious pricing to unlock a viable carbon-neutral economy. “HyDeal brings together visionary CEOs and entrepreneurs who share the determination to accelerate the energy transition,” said Thierry Lepercq, spokesperson for HyDeal.  With operations at full capacity scheduled for 2030, the project will deliver 3.6 million tonnes of green hydrogen per year to end-users using the existing gas transmission and storage system. “It is a privilege to support HyDeal as it ushers in a new era in energy production. Our role further illustrates Cranmore’s invaluable experience with hydrogen projects as we help drive this initiative forward,” said Yusuf Macun, Managing Partner of Cranmore Partners.