The Netherlands – Mitsubishi Corporation intends to work with Shell on the development of major offshore wind farms in Europe in order to produce green hydrogen.
By 2030, the plan is expected to produce 400,000 tons of green hydrogen, speeding up the global push toward decarbonization.
The plan calls for the construction of offshore wind farms in the Netherlands that can generate around 4 million kilowatts of electricity. The generated energy will be used to produce hydrogen, with a goal of producing 1 million tons per year by 2040, according to the source.
Mitsubishi plans to invest $16.2 billion in decarbonization industries by fiscal 2030, with about half of that going to renewable energy.