UDP Renewables has joined the European Clean Hydrogen Alliance
Kyiv, March 11, 2021. — UDP Renewables, whose strategic investor is the holding company UFuture, has joined the European Clean Hydrogen Alliance, which was established by the European Commission under the Green 402 GW New Hydrogen Production Capacity Initiative. This step was the beginning of the formation of a new direction of the company’s activities in the field of innovative projects for the installation of “green” hydrogen technology.
The company’s project portfolio currently includes solar and wind energy projects with a total capacity of 570 MW, which allows the implementation of the installation of hydrogen technology on an industrial scale.
The alliance’s priorities are to meet the demand for hydrogen as the main source of energy and to attract investment for decarbonization projects.
The Alliance consists of national energy and transnational companies, research institutions, and the European Investment Bank. Leading European energy and industrial companies such as Electricité de France (EDF), E.ON SE, BMW Group, General Electric, AREVA H2Gen, Airbus SAS, Alstom, BASF SE, Bosch Group have joined the European Clean Hydrogen Alliance, and more than two dozen Ukrainian companies.
“Our company is closely monitoring the development of hydrogen technology because it is the next level of innovation in energy and strategy to provide humanity with resources for life. UDP Renewables' entry into the alliance is one of such steps, it is a look beyond the horizon and an opportunity to receive information about technologies from its developers and pioneers in the industry,” said Serhiy Yevtushenko, managing partner of UDP Renewables.
Today, the investment potential of the hydrogen market in European countries is estimated at 470 billion euros by 2050. In July 2020, the European Commission presented the “Hydrogen Strategy for Climate-Neutral Europe”. Ukraine received a quota for the installation of 10 GW of hydrogen capacity, which became the basis for the active development of a new energy sector.
UDP Renewables is implementing new approaches and energy innovations to reduce the carbon footprint and for a clean future for future generations.
ADDITIONAL INFORMATION
UDPRenewables is an investment and development company in the Ukrainian renewable energy sector. With diversification in the type of renewable power generation and geography, by 2022 UDP Renewables strives to become one of the largest producers of clean energy in Ukraine, with a total capacity of more than 300 MW.
UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky, which has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals and IT. In particular, UFuture is a strategic investor in UDP Renewables. UFuture’s assets are valued at $500 million, and the total capitalization of the businesses in which it has invested is up to $1 billion.