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Africa could capture up to 10% of global green hydrogen market, helping to create up to 3.7 million jobs and adding as much as US$120bn to GDP by 2050, report released at COP27 shows Green hydrogen production on this scale wouldaccelerate deployment of renewable energy across continent and increase electrification rate Report produced by Masdar and Abu Dhabi Sustainability Week with analytical support provided by McKinsey & Company ABU DHABI, UAE, Nov. 11, 2022 /PRNewswire/ -- Africa could capture as much as 10 percent of the global green hydrogen market, helping to create up to 3.7 million jobs and adding as much as US$120 billion to the continent's gross domestic product (GDP), according to a landmark report issued jointly by Masdar and its Abu Dhabi Sustainability Week (ADSW) platform on the sidelines of the 2022 United Nations Climate Change Conference (COP27). Africa's plentiful solar and wind resources could be leveraged to produce 30 to 60 million tonnes per annum (mtpa) of green hydrogen by 2050, about 5 to 10 percent of global demand, according to the report, "Africa's Green Energy Revolution: Hydrogen's role in unlocking Africa's untapped renewables," produced with analytical support provided by McKinsey & Company. An African hydrogen industry with that production capacity would likely create 1.9 to 3.7 million jobs and boost GDP by as much as US$60 to 120 billion by 2050, the report finds. Mohamed Jameel Al Ramahi, Masdar Chief Executive Officer, said, "This report provides a blueprint for African nations to deliver sustainable, low-carbon growth while extending energy access across the continent. Green hydrogen has the potential to reduce emissions, unlock economic opportunities, and create new and valuable jobs for countries across the Middle East and North Africa region. Masdar has long recognized green hydrogen's potential, with investments as far back as 2008. With several green hydrogen projects underway today around the world - including a number in Africa - we look forward to continuing to work closely with our African partners to maximize the many achievable benefits of green hydrogen highlighted in this report." Africa could be among the most competitive sources for green hydrogen in the world, the report shows, with a cost of US$1.8 to 2.6 per kilogram (kg) in 2030, further decreasing to about US$1.2 to 1.6 per kg by 2050 as hydrogen production technology matures and renewable energy costs continue to decline. Proximity to demand centers in Europe and Asia also optimally positions the continent to build an export-oriented hydrogen sector, the report suggests, noting African energy exports via green hydrogen and derivatives would reach 20 to 40 mtpa by 2050. The remaining 10-20 mtpa would serve domestic hydrogen demand, helping to boost electrification of African communities and delivering other socioeconomic benefits, includinga more sustainable energy grid, expanded clean energy access, and reduced reliance on fossil fuel imports. Masdar Director of Asset Management and Technical Services, Mohammad Abdelqader El Ramahi, said: "Scaling up green hydrogen is an opportunity to not only build a robust global-export sector on the African continent, but also to accelerate the deployment of renewable energy overall. The grid-connected renewables used for green hydrogen production can feed energy into the grid to provide affordable clean energy to under-resourced areas - notably, in Sub-Saharan Africa, which has an average electrification rate of only 48 percent." Enabling production on the scale of 30-60 mtpa would require between 1,500 and 3,000 terawatt hours (TWh) of renewable energy - equivalent to more than 50 times Africa's current total production from solar and wind, the report states. The largest share of the investments (US$320- 610 billion) would go to the renewables needed to produce the hydrogen, followed by electrolysis plants (US$115-220 billion). For export projects, most of the needed capital is expected to come from foreign investors, according to the report. Beyond investments, the report recommends six broad areas for action: development of an integrated master plan; governance, international coordination, and mobilization; establishment of regulatory frameworks for hydrogen exports; investments in infrastructure; sourcing and building a highly skilled workforce; and deployment of project de-risking mechanisms. Masdar, one of the world's leading clean energy companies, is actively involved in a number of projects related to green hydrogen production. In April, Masdar and Egypt's Hassan Allam Utilities signed agreements with leading Egyptian state-backed organizations to cooperate on the development of green hydrogen production plants in the country, targeting an electrolyzer capacity of 4 gigawatts by 2030, and output of up to 480,000 tonnes of green hydrogen per year. The Masdar-ADSW report on Africa's green hydrogen potential can be found online here About Masdar Abu Dhabi's clean energy company, Masdar, is advancing the commercialization and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, our mandate is to help maintain the UAE's leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Today, Masdar is active in over 40 countries, including the UAE, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, the UK, the US, Australia, Serbia, Indonesia, Uzbekistan, and many more. About ADSW Abu Dhabi Sustainability Week (ADSW) is a global initiative championed by the UAE and its clean energy powerhouse, Masdar, to accelerate sustainable development and advance economic, social, and environmental progress. Established in 2008, ADSW brings together heads of state, policy makers, industry leaders, investors, entrepreneurs and youth, to discuss and engage on bold climate action and innovations that will ensure the next generation a sustainable world. ADSW will continue to build on its global momentum during COP27, offering a series of events that will take place from November 9-17, enabling impactful dialogue between global stakeholders on practical, pro-climate, pro-growth solutions for a net-zero future. The ADSW Agenda from COP27 will feature leaders from a variety of sectors, including clean energy, technology, government, and financial institutions. It will also feature meetings of Masdar's strategic platforms Women in Sustainability, Environment and Renewable Energy (WiSER), Youth 4 Sustainability (Y4S), and the Zayed Sustainability Prize. For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

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Serbia ,Mauritania ,Australia ,Abu Dhabi ,Abuz Aby ,United Arab Emirates ,Egypt ,United Kingdom ,Morocco ,Uzbekistan ,Saudi Arabia ,Indonesia ,Jordan ,Egyptian ,Prnewswire Africa ,Mohamed Jameel Al Ramahi ,Mohammad Abdelqader El Ramahi ,Africa Green Energy Revolution ,Technical Services ,Mckinsey Company ,Mubadala Investment Company ,Abu Dhabi Sustainability Week ,Nations Climate Change Conference ,Green Energy Revolution ,Jameel Al Ramahi ,Masdar Chief Executive Officer ,Middle East ,North Africa ,Asset Management ,Sub Saharan Africa ,Hassan Allam Utilities ,Africa Could Capture Up To 10 Of Global Green Hydrogen Market ,Elping To Create Up 3 7 Million Jobs And Adding As Much Us 120bn Gdp By 2050 ,Eport Released At Cop27 Shows Green Hydrogen Production On This Scale Wouldaccelerate Deployment Of Renewable Energy Across Continent And Increase Electrification Rate Report Produced By Masdar Abu Dhabi Sustainability Week With Analytical Support Provided Mckinsey Amp Company ,Ae ,Nov 11 ,022 Prnewswire Africa Could Capture As Much 10 Percent Of The Global Green Hydrogen Market ,Elping To Create Up 3 7 Million Jobs And Adding As Much Us 120 Billion The Continent 39s Gross Domestic Product Gdp ,Ccording Toa Landmark Report Issued Jointly By Masdar And Its Abu Dhabi Sustainability Week Adsw Platform On The Sidelines Of 2022 United Nations Climate Change Conference Cop27 Africa 39s Plentiful Solar Wind Resources Could Be Leveraged To Produce 30 60 Million Tonnes Per Annum Mtpa Green Hydrogen 2050 ,Bout 5 To 10 Percent Of Global Demand ,According To The Report ,Uot Africa 39s Green Energy Revolution Hydrogen Role In Unlocking Untapped Renewables ,Uot Produced With Analytical Support Provided By Mckinsey Amp Company An African Hydrogen Industry That Production Capacity Would Likely Create 1 9 To 3 7 Million Jobs And Boost Gdp As Much Us 60 120 Billion 2050 ,He Report Finds Mohamed Jameel Al Ramahi ,Aid ,Uot This Report Providesa Blueprint For African Nations To Deliver Sustainable ,Ow Carbon Growth While Extending Energy Access Across The Continent Green Hydrogen Has Potential To Reduce Emissions ,Unlock Economic Opportunities ,Nd Create New And Valuable Jobs For Countries Across The Middle East North Africa Region Masdar Has Long Recognized Green Hydrogen 39s Potential ,Ith Investments As Far Back 2008 With Several Green Hydrogen Projects Underway Today Around The World Includinga Number In Africa We Look Forward To Continuing Work Closely Our African Partners Maximize Many Achievable Benefits Of Highlighted This Report Quot Could Be Among Most Competitive Sources For ,He Report Shows ,Itha Cost Of Us 1 8 To 2 6 Per Kilogram Kg In 2030 ,Urther Decreasing To About Us 1 2 6 Per Kg By 2050 As Hydrogen Production Technology Matures And Renewable Energy Costs Continue Decline Proximity Demand Centers In Europe Asia Also Optimally Positions The Continent Build An Export Oriented Sector ,He Report Suggests ,Oting African Energy Exports Via Green Hydrogen And Derivatives Would Reach 20 To 40 Mtpa By 2050 The Remaining 10 Serve Domestic Demand ,Elping To Boost Electrification Of African Communities And Delivering Other Socioeconomic Benefits ,Ncludinga More Sustainable Energy Grid ,Xpanded Clean Energy Access ,Nd Reduced Reliance On Fossil Fuel Imports Masdar Director Of Asset Management And Technical Services ,Aid Quot Scaling Up Green Hydrogen Is An Opportunity To Not Only Builda Robust Global Export Sector On The African Continent ,Ut Also To Accelerate The Deployment Of Renewable Energy Overall Grid Connected Renewables Used For Green Hydrogen Production Can Feed Into Provide Affordable Clean Under Resourced Areas Notably ,In Sub Saharan Africa ,Hich Has An Average Electrification Rate Of Only 48 Percent Quot Enabling Production On The Scale 30 60 Mtpa Would Require Between 1 ,500 And 3 ,000 Terawatt Hours Twh Of Renewable Energy Equivalent To More Than 50 Times Africa 39s Current Total Production From Solar And Wind ,He Report States The Largest Share Of Investments Us 320 610 Billion Would Go To Renewables Needed Produce Hydrogen ,Ollowed By Electrolysis Plants Us 115 220 Billion For Export Projects ,Ost Of The Needed Capital Is Expected To Come From Foreign Investors ,Ccording To The Report Beyond Investments ,He Report Recommends Six Broad Areas For Action Development Of An Integrated Master Plan Governance ,International Coordination ,Nd Mobilization Establishment Of Regulatory Frameworks For Hydrogen Exports Investments In Infrastructure Sourcing And Buildinga Highly Skilled Workforce Deployment Project De Risking Mechanisms Masdar ,Ne Of The World 39s Leading Clean Energy Companies ,S Actively Involved Ina Number Of Projects Related To Green Hydrogen Production In April ,Asdar And Egypt 39s Hassan Allam Utilities Signed Agreements With Leading Egyptian State Backed Organizations To Cooperate On The Development Of Green Hydrogen Production Plants In Country ,Argeting An Electrolyzer Capacity Of 4 Gigawatts By 2030 ,Nd Output Of Up To 480 ,000 Tonnes Of Green Hydrogen Per Year The Masdar Adsw Report On Africa 39s Potential Can Be Found Online Here About Abu Dhabi Clean Energy Company ,Masdar ,S Advancing The Commercialization And Deployment Of Renewable Energy ,Ustainable Urban Development And Clean Technologies To Address Global Sustainability Challenges Wholly Owned By Mubadala Investment Company ,He Strategic Investment Company Of The Government Abu Dhabi ,Ur Mandate Is To Help Maintain The Uae 39s Leadership In Global Energy Sector ,Hile Supporting The Diversification Of Both Its Economy And Energy Sources For Benefit Future Generations Today ,Asdar Is Active In Over 40 Countries ,Including The Uae ,The Uk ,The Us ,Nd Many More About Adsw Abu Dhabi Sustainability Week Isa Global Initiative Championed By The Uae And Its Clean Energy Powerhouse ,O Accelerate Sustainable Development And Advance Economic ,Ocial ,Nd Environmental Progress Established In 2008 ,Dsw Brings Together Heads Of State ,Policy Makers ,Industry Leaders ,Investors ,Ntrepreneurs And Youth ,O Discuss And Engage On Bold Climate Action Innovations That Will Ensure The Next Generationa Sustainable World Adsw Continue To Build Its Global Momentum During Cop27 ,Fferinga Series Of Events That Will Take Place From November 9 17 ,Nabling Impactful Dialogue Between Global Stakeholders On Practical ,Pro Climate ,Ro Growth Solutions Fora Net Zero Future The Adsw Agenda From Cop27 Will Feature Leaders Froma Variety Of Sectors ,Ncluding Clean Energy ,Technology ,Government ,Nd Financial Institutions It Will Also Feature Meetings Of Masdar 39s Strategic Platforms Women In Sustainability ,Nvironment And Renewable Energy Wiser ,Outh 4 Sustainability Y4s ,Nd The Zayed Sustainability Prize For More Information Please Visit Http Www Masdar Ae And Connect Facebook Com Twitter ,

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