Hydrogen mega-project set to create 24,000 jobs

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Around 24,300 jobs are expected to be created following the announcement of Project HySpeed, a national effort to develop green hydrogen production hubs across the country.

Companies have joined forces for a landmark clean hydrogen mega-project which will inject £6.5bn of private capital into the economy
Companies have joined forces for a landmark clean hydrogen mega-project which will inject £6.5bn of private capital into the economy - HydraB Power

Project HySpeed involves a consortium of UK-based firms - including Centrica, Heidelberg, ITM Power, JCB, Johnson Matthey and National Gas – and plans to produce 1GW of capacity by 2030 and reduce CO2 emissions by one million tonnes a year.

Jo Bamford, executive chairman at the HydraB Power group which put forward the proposal, said: “Now more than ever the UK needs to stand on its own two feet, especially when it comes to our energy resources. Hydrogen offers us the opportunity to be energy secure and energy independent,” he said. “Our conversations with the Department for Energy Security and Net Zero have been hugely encouraging and we know the government is keen to support clean energy projects of this size.”

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The project will aim to build a hydrogen ecosystem with hydrogen production hubs supporting local ecosystems and injecting hydrogen into the gas grid to enable UK-wide industrial decarbonisation.

Dennis Schulz, the CEO of ITM Power PLC, said “A consortium approach between credible industry players is the most effective pathway to the rapid scale-up of the UK’s green hydrogen economy. Comprising all elements of the hydrogen value chain from production to storage, transport and distribution, the initiative aims to locate green hydrogen generation in strategic locations across the UK. With volume come economies of scale, which will drive down costs and accelerate the market substantially.”

Chris O’Shea, group CEO of Centrica, said: “There is no silver bullet to decarbonise the energy system. It will take every technology we have at our disposal to achieve Net Zero. The scale and ambition of this project has the potential to dramatically lower costs, making hydrogen roll-out affordable for government and the private sector alike. Hydrogen can play a crucial role in tackling emissions from sectors that other clean energy sources can’t easily reach. It can be used to power the UK when the sun doesn’t shine, and the wind doesn’t blow.”

Among the thousands of new jobs created, many would be in the construction, operations and manufacturing sectors and would support the UK’s Green Jobs Delivery Group’s target of 480,000 skilled green jobs by 2030.

 

green hydrogen economy