EDPR and Lhyfe, who recently signed an agreement, want to identify project opportunities to produce renewable hydrogen

EDPR has signed an agreement with the French company Lhyfe to produce renewable hydrogen and contribute to carbon reduction in society and industries. EDPR will provide renewable electric energy to Lhyfe's hydrogen production projects and intends to reach 1,5 GW of clean hydrogen production volume by 2030.
“We believe that clean hydrogen can go hand in hand with the direct generation of electricity as the best way to reduce CO2 emissions and achieve the decarbonization of the economy, which includes the areas that are most difficult to eliminate carbon. The agreement with Lhyfe intends to reinforce EDPR's commitment to accelerate the energy transition while another step towards the realization of the clean hydrogen production plan is signed", said the CEO of EDP and EDP Renewables, Miguel Stilwell d'Andrade .

Furthermore, both EDPR and Lhyfe will assess opportunities for joint project development, with EDPR's participation which may amount to 50% of the project's equity. EDPR and Lhyfe will also work together on R&D actions, development of new projects and purchase of equipment.

“We are delighted to sign this agreement with one of the world's largest producers of renewable energy. EDPR's trust in us allows us to confidently reflect on the development of our renewable hydrogen globally and on a large scale. We are excited to improve our future hydrogen production facilities alongside EDPR with the aim of eliminating carbon footprints in societies and industries, thanks to the combination of the strengths of EDPR and Lhyfe”, said Lhyfe Founder and CEO, Matthieu Guesné.

EDPR agreement with Lhyfe aims at generating profit and international growth of companies

The agreement made with EDPR aims to generate profits through a partnership between the two companies, promoting the growth of EDPR's portfolio, especially in France, and contributing to the growth of Lhyfe's projects worldwide. Also, the partnership between the two companies contributes to the acquisition of more operational and commercial technologies for the renewable hydrogen project.

The alliance with Lhyfe reaffirms EDPR's commitment to renewable hydrogen. With this, the team forms the H2BU (H2 Business Unit), a business unit dedicated exclusively to the development of renewable hydrogen projects and focuses on developing opportunities in promising areas, such as iron metallurgy and chemicals, refineries and cement factories and long and heavy transport.

EDPR owned several renewable hydrogen production projects

EDP ​​is in the sector of clean energy solution for a long time through numerous projects such as GreenH2Atlantic, a 100 MW renewable hydrogen energy project in Sines (Portugal). EDPR is also promoting other projects in Spain and Brazil, towards its transformation plans for the conversion of coal power plants into clean technology facilities. Also, EDPR is heavily involved with major hydrogen players, leveraging its critical portfolio of renewable assets, particularly in the US.

The efficiency of hydrogen is supported by the prediction that the global demand for hydrogen will increase sixfold between 2020 and 2050, reaching 530 million tons by 2050, encouraged by financial growth and doubling of consumption, both in industry and in mobility. The share of renewable hydrogen is expected to represent 60% of the total hydrogen demand by 2050.