Like many Governments around the world, we believe that hydrogen will be required for the energy transition, which is why we have launched a new global clean hydrogen business to make hydrogen from water by electrolysis using zero carbon electricity. This new business builds on our existing strengths as Europe’s largest operator of electrolysis technology and owners of gas storage infrastructure capable of holding significant amounts of hydrogen. The two combined can help buffer the intermittency of renewable energy. We currently produce around 400,000 tonnes of hydrogen each year as a co-product of our existing processes. This gives us the capability to help kick start a transition towards hydrogen.
Clean hydrogen will provide zero emission power for industry and heavy transport. It will meet the growing demand for hydrogen fuelled trucks, busses and trains, as well as for future versions of our own INEOS Grenadier 4x4. And we are working with local and national authorities in several regions to help develop the infrastructure needed to see this adopted as a fuel that may one day heat our homes.
The INEOS commitment to Belgian offshore renewable wind to 205 MW (~750 GWh per annum). Together this reduces the carbon footprint of our operations by nearly 3 million tonnes of CO2 over the life of the contracts; the equivalent of taking more than 230,000 cars off the road, in total, each year.
In the USA, we are exploring development with partners of solar farms for renewable energy at two of our sites. Zero emission solar power combined with additional electrification of our systems will enable us to substantially reduce emissions and take us a step closer towards our goal for 2050.