H2-Industries, a global hydrogen generation and energy storage solutions company, has signed an MoU with the Swiss-based developer of integrated renewable energy projects, Terra Sola Group AG
The agreement supports Terra Sola’s development of tailor-made, large-scale integrated solar energy programmes for selected countries across Africa using H2-Industries liquid organic hydrogen carriers (LOHC) technology. This provides technological solutions for the storage and release of electrical power for export, utilisation as a local industrial feedstock, or for grid stabilisation and/or off-grid power availability.
The multimillion US dollar cooperation is aimed at accelerating the transition of local industries to renewable energy, driving electrification, and boosting socio-economic development in selected countries.
Terra Sola Group AG brings together financial, technological, and development partners to establish large-scale PV power plants, primarily in the Middle East, as well as Africa, where there is high demand for energy. Currently, the Algeria-based development arm, Terra Sola PV Production Algérie, is active in more than 17 African countries with a combined project pipeline of more than 10GW installed solar capacity, combined with various socio-economic benefits for their host countries, like education and job-creation programmes and the localisation of industrial production and knowledge transfer.
H2-Industries LOHC technology plays a vital role in these integrated programmes due to its unique technological and economic advantages. The company can convert power from renewable energies (solar, wind, hydro) into hydrogen, store and transport it in LOHC and then release it for power generation (via Fuel Cell) in any location or for direct use in industry and/or mobility sectors, on-grid, or off-grid.
“We have just returned from Egypt where COP27 was held this year, where the importance of transitioning the global energy sector has been emphasised by a dramatic call to action. Together with Terra Sola Group AG, we will focus our attention on giving selected developing countries access to much-needed clean power which will help boost their long-needed economic development, while making their contribution towards the global Net-Zero emission targets. Clean energy transition is a once-in-a-lifetime opportunity for Africa, a chance to reduce poverty and lift growth potential,” said Michael Stusch, CEO of H2-Industries.
“Africa today is at the epicentre of the global climate crisis, yet Africa contributes the least to global warming, but it is suffering the greatest impact from climate change. At the same time, Africa is not just in imminent need of industrial development but needs to improve the living standards of the continent’s population. The availability of energy is key to Africa’s future development,” said David F. Heimhofer, chairman at Terra Sola Group AG.
Several project plans are currently in the final negotiation stages with the respective government authorities of the target markets. The implementation of the first project commencement is anticipated for Q1 2023.