With the potential to produce 1,956 GW of solar energy and 106 GW of wind energy – in addition to its proximity to Europe – West Africa is taking its place as a global green hydrogen production hub. As such, this year’s MSGBC Oil, Gas & Power 2024 conference – taking place in Dakar from December 3-4 – will feature a green hydrogen-focused panel session, evaluating ongoing projects, key investments and the potential for green hydrogen to reshape Africa’s energy landscape.
A World Bank blog makes the case for green hydrogen becoming a major economic driver for the economy.
Industries such as steel, cement, and heavy transport account for some one-third of global greenhouse gas emissions (GHG), rendering breakthrough zero-carbon industrial products one of the most valuable assets of the world’s climate change portfolio. Heavy carbon emitting manufacturers all over the world are making the switch to cleaner industrial processes such as low-carbon electricity for industrial heat and hydrogen-based steelmaking. These companies are desperate to find a new technology that enables this. While quality control remains paramount, lower GHG-emitting industrial products have become the preferred choice.
he total market potential of hydrogen technology could reach $11 trillion by 2050, with major advancements and falling production costs, says Bank of America, which firmly believes “we are reaching the point of harnessing the element that comprises 90% of the universe, effectively and economically”.