Muscat: Oman’s CCC Group and Fusion Fuel Green of Ireland have entered a partnership to invest in a clean energy venture to help to refine petrochemical firms to achieve their decarbonization goals.
Oman is among the three countries in the Middle East selected by Fusion Fuel Green PLC to install and establish green hydrogen demonstrator plants to support local petrochemical companies to regulate their carbon footprint
Consolidated Contractors Group SAL (CCC), a diverse, global company specializing in engineering and construction has signed a collaboration agreement with the Irish giant towards this initiative. The pact was signed in Dublin over the weekend between the two companies committing to the development of projects centering on the production of green hydrogen for potential clientele in the refining and petrochemicals industry.
What is Green Hydrogen?
This technology is based on the generation of hydrogen — a universal, light, and highly reactive fuel — through a chemical process known as electrolysis. This method uses an electrical current to separate the hydrogen from the oxygen in water. If this electricity is obtained from renewable sources we will, therefore, produce energy without emitting carbon dioxide into the atmosphere.
As the International Energy Agency (IEA) points out, this method of obtaining green hydrogen would save the 830 million tonnes of CO2 that are emitted annually when this gas is produced using fossil fuels. Likewise, replacing all grey hydrogen in the world would require 3,000 TWh/year from new renewables — equivalent to the current demand of Europe. However, there are some questions about the viability of green hydrogen because of its high production cost; reasonable doubts that will disappear as the decarbonization of the earth progresses and, consequently, the generation of renewable energy becomes cheaper.
“We are delighted to be partnering with the CCC to open this new market. The Middle East represents a big opportunity and a very promising region for us, given the high levels of solar exposure, strong appetite for green hydrogen projects, and strategic geographic position between Europe and Asia. We are excited to bring Fusion Fuel’s revolutionary technology to the Middle East.” Joao Wahnon, Head of Business Development at Fusion Fuel, said.
“We are very pleased to cooperate with Fusion Fuel towards the building of green hydrogen and ammonia plants and to bring our expertise in construction projects, particularly in the Middle East. This cooperation between our companies will generate new opportunities in the development of green energies.”Dori Barakat, Director of Business Development at CCC stated.
In addition to the agreement, the clean energy venture plans to add many green hydrogen projects and install demonstrator plants on a full-fledged commercial scale in various vital locations around the Sultanate.
