PASH Global, ERIH Holdings Form JV For 5-GW Green Hydrogen In Europe

International developer of clean power projects PASH Global has announced that it has collaborated with ERIH Holdings for the creation of a 50-50 joint venture (JV) to develop and invest in green hydrogen and ammonia projects totalling 5 GW of electrolyser capacity.

The project will be powered by 10 GW of renewable energy generation capacity such as solar, wind, and geothermal in Italy, Spain, Turkey, Greece, Serbia and Colombia by 2030. The green electricity will then be entirely consumed for captive needs of round-the-clock power and intermittent energy for green hydrogen.

London based PASH Global is backed by commodities giant Trafigura. ERIH Holdings is a Turkish diversified global renewable investment company.

The next step, according to PASH Global, is to work together with potential partners to develop commercial and technical concepts in the first two projects located in Turkey and Italy.

ERIH has been acting as the project coordinator, bringing all of the relevant parties together and organizing partnerships between customers and the system operators that will transport the hydrogen to the customer’s premises.

“Building the Next-Generation Utility is the vision of the JV,” said Akin Gunduz, CEO of ERIH Holdings. “Without hydrogen there can be no energy transition, no climate neutrality, and no move away from fossil fuels.”

“The JV presents an exciting opportunity that would bring together our unique strengths and provide a scalable platform to supply our customers with affordable, reliable and ever-cleaner energy.” said Vine Mwense, Executive Director and Co-Founder of PASH Global.

“These are complex projects and there is still some way to go in terms of approvals, design, construction and commissioning but this is a major boost on the development of hydrogen in globally,” added Akin Gunduz.

Last year, the European Commission (EC) approved $5.2 billion in public funding for the development of green hydrogen to step-up the RE share in energy mix. Subsequently, Frans Timmermans, the European Commission Executive Vice President, also announced that €3 billion funds would be allocated from the next Innovation Fund large-scale call to support the European hydrogen economy.