Export of Green Hydrogen from Iceland Planned by 2030
Landsvirkjun - the national power company of Iceland – and port authorities in Rotterdam, the Netherlands, have completed a preliminary review of the possibility of exporting green hydrogen, that is, hydrogen fuel created by using renewable energy instead of fossil fuels, from Iceland to Rotterdam.
According to information from Landsvirkjun, the results show that the technology for the project is available and the project is deemed to be financially profitable, Morgunblaðið reports. In addition, Landsvirkjun sees the project as an important contribution in the fight against global warming, as the world’s economies replace fossil fuels with renewable energy in the coming decades.
“These findings are very encouraging,” states Hörður Arnarson, director of Landsvirkjun, “and we, here at Landsvirkjun, have confidence in the cooperation with the Port of Rotterdam.”
The goal is for a detailed description of the intentions of Landsvirkjun and Rotterdam port authorities to be ready during the second half of next year. The parties believe they can realistically expect green hydrogen to be exported from Iceland to Rotterdam by 2030.
“We’re determined to continue leading the way in the field of renewable energy,” Hörður states. “This is the way toward a better future for all of us.”
For the past months, the companies have worked together at identifying the main components of the value chain, from the production of renewable energy and hydrogen production in Iceland to the transportation to the Port of Rotterdam.
According to information from Landsvirkjun, the preliminary review reveals that the project could start during the second half of this decade and that its scope would be between two and four TWh (or 200-500 MW). The company believes those first steps could reduce CO2 emissions by one million tons a year, and that later on, the reduction could amount to millions of tons. The energy used could be a mix of renewable energy, including hydroelectric, geothermal and wind energy.
The hydrogen would be produced through the electrolysis of water with renewable power. An electric current would split water into hydrogen and oxygen. Currently, most of the world’s hydrogen supply is produced from natural gas, thereby leaving a large carbon footprint.
For background information, see here.