14 Sep 2021 | 10:31 UTC

HDF poised to accelerate green hydrogen power rollout in Europe

Highlights

IPO helps to expand hydrogen power production

Steady renewable power supply with hydrogen storage

Targets 200 MW of hydrogen-to-power by 2025

Renewable hydrogen and power company Hydrogene de France is poised to accelerate the development of its green energy storage and production technology, the company said Sept. 14, targeting the deployment of 200 MW of hydrogen-to-power generation by mid-decade.

Following an initial public offering in June, HDF plans to develop the rollout of its continuous and on-demand renewable power plants, it said in a results statement.

The company manufactures multi-megawatt renewable power plants combining wind or solar with hydrogen production and storage, which can then be reconverted to electrical energy through a fuel cell at times of high demand and low generation.

HDF also produces gas-to-power plants to produce electricity on demand from renewable or low-carbon hydrogen from gas transportation networks, as well as standalone fuel cells, and is targeting installation of 200 MW of Hypower hydrogen-to-power plants by 2025 in Europe, expanding to over 1 GW from 2030.

"HDF Energy intends to significantly step up its commercial development through the strategic positions it has already acquired, thereby becoming a leader in the development of continuous and on-demand power plant projects based on hydrogen and renewable energies," HDF Energy Chairman and CEO Damien Havard said in the statement.

"The resounding success of the IPO illustrates the major potential of our markets and the merits of our positioning," Havard added.

The company's IPO raised Eur115 million ($136 million), including investments from French natural gas storage operator Terega and energy storage and distribution company Rubis, with whom HDF Energy has signed strategic partnerships.

HDF is developing a high-power fuel cell production plant in the Bordeaux region of France, and is in the process of applying for building permits for the site. The plant is due to be commissioned in 2023, and will serve the maritime and data center markets.

In 2020, it signed an agreement with Terega to develop and offer storage capacity for hydrogen in a salt cavity by 2024.

S&P Global Platts assessed the cost of producing renewable hydrogen via alkaline electrolysis in Europe at Eur7.99/kg ($9.44/kg) Sept. 13 (Netherlands, including capex). PEM electrolysis production was assessed at Eur9.68/kg, while blue hydrogen production by steam methane reforming (including carbon, CCS and capex) was Eur4.22/kg.