Posted on 15 Sep 2023
Russia’s Kamchatka Development Corporation has signed an agreement for a tidal hydrogen plant in the Penzhinsky district of Kamchatka with Chinese companies.
The project for the construction of a hydrogen station in Penzhinskaya Bay was included in the Concept for the Development of Hydrogen Energy, which was approved by Russia in 2021.
According to preliminary estimates, the Penzhina tidal power plant, which could be built in the northeastern part of Shelikhov Bay in the Sea of Okhotsk, will be able to produce up to 5 million tonnes/year of hydrogen.
Regional governor Vladimir Solodova announced he is ready to provide "all possible assistance" to the Chinese companies -- N2 Clean Energy LLC, JI-TECH, and SEL CHEM.
According to a statement by the regional government, the Chinese companies intend to purchase Russian hydrogen and chemical compounds from the project. They will conduct a study to assess opportunities for participation in the project implementation, Kallanish notes.
The Kamchatka Development Corporation will provide support, including the choice of preference regime that applies to investors in the region, like the Free Port of Vladivostok and the Kamchatka Special Economic Zone.
Earlier, Russia’s government and AFK Sistema Corporation signed an agreement of intent to develop the hydrogen industry. The implementation of the roadmap measures will make it possible to create technologies and equipment for the production, storage, transportation and use of hydrogen based on Russian developments.
The Russian state will provide RUB 9.3 billion ($96 million) in investments through 2024 for hydrogen development.
The comprehensive programme for the development of the low-carbon hydrogen energy industry, prepared by the Russian Ministry of Energy in 2022, implied that the export of Russian hydrogen in 2030 could amount to 2.2 million tonnes. The proceeds from its sale could be $12.7 billion.
Source:Kallanish
