Masdar, the UAE’s leading clean energy company, has announced that it is postponing its target of achieving 1 million tons per year of green hydrogen capacity beyond 2030. The firm’s press office indicated that the new target will extend over the next decade, although specific reasons for the delay were not provided.
Masdar is actively involved in developing green hydrogen projects globally, aiming to establish scalable platforms in key markets. The company operates with backing from notable shareholders, including ADNOC, Mubadala, and TAQA.
Recently, Masdar completed a pilot project with EMSTEEL, the UAE’s largest steel company, demonstrating the use of green hydrogen in producing green steel. However, the postponement of Masdar’s capacity goals suggests that green hydrogen faces significant challenges, particularly its current high costs.
Saeed Ghumran Al Remeithi, CEO of EMSTEEL, noted the need for closer collaboration among regulators, suppliers, and customers to address these challenges, as green hydrogen’s expense inhibits broader adoption.
Similar trends have been observed in Europe, where several major companies, including Repsol, Cepsa, Shell, and Equinor, have scaled back their green hydrogen initiatives due to regulatory hurdles and uncertainties about future demand. The International Energy Agency (IEA) has also highlighted that policy and demand uncertainties are hindering the adoption of green hydrogen technologies. [1]
