COP28 brings flurry of UAE hydrogen deal-making

Deals announced by Abu Dhabi clean energy developer Masdar are strongly focused on developing hydrogen supplies to Europe

The UAE’s energy companies took advantage of COP28 taking place on home turf to engage in a flurry of green hydrogen deal-making, highlighting the country’s ambition to become a major global player in the sector. Abu Dhabi’s government-owned Masdar took the lead, signing over a dozen investment agreements. The company’s aim is to grow its portfolio to 100GW of renewables and 1mt/yr of green hydrogen by 2030. Most of the deals entailed the development of pure renewables, with the subsequent use of some of the output in the production of green hydrogen a stated or unstated possibility. Green hydrogen deal-making was primarily focused on Europe and its potential suppliers. A non-binding heads o