Is the glass the right size?

The MED-GEM Director Frank Wouters was invited to the Global Growth Conference in Rabat, organized by the prestigious Amadeus Institute, held under the motto “Financing Growth, Shaping the Energy Transition”. Frank participated in a session called “Green Hydrogen Revolution: Powering Growth for a Sustainable Future” and was accompanied among others by Amir Sharifi, Chief Investment Officer of Hy24, Samir Rachidi, Managing Director of IRESEN, Thierry Leperq, President of HyDeal, Reda Hamdoun, EVP of Nareva, Ali Zerouali, EVP of HIF Global, and Fatima-Zahra El Khalifa, General Manager of the Renewable Energy Cluster. The panel was moderated by Khalid Benhamou, Managing Director of Sahara Wind, who expertly navigated topics ranging from trade aspects of the nascent hydrogen economy, understanding financing triggers, the growing role of China, and the increasing role of LNG.  

Amir Sharifi said that investments are going ahead, and Samir Rachidi explained how Morocco is shaping the market with its Offre Maroc or Moroccan Offer. Frank Wouters explained how China is going full steam ahead on hydrogen. He reported that the solar panel and wind turbine industry are dominated by Chinese manufacturers, and now more than one hundred electrolyzer manufacturers are also present in the country, showing China’s determination to shape a clean energy future rather than talk about it. A discussion evolved about how to engage with this Chinese momentum, for example through joint ventures.

Despite these signs of progress, many companies had higher hopes of a faster market introduction a few years ago. Some of the ambitions and timelines are likely to see delays. Many reasons were mentioned: unclear legislation, lack of a business case, high costs, absence of infrastructure and missing financing. This poses the question whether the glass is half full or half empty? Or, as an engineer would say, the glass is the wrong size. Hydrogen is a necessary part of our future clean energy system, but perhaps we need to recalibrate our expectations.