Japan’s Mitsubishi Corp and Britain’s oil giant Shell Plc are considering producing green hydrogen by developing major offshore wind farms in Europe.
The duo is all set to collaborate as part of a global mission of decarbonisation.
It has been reported that the companies will create 400,000 tonnes of green hydrogen annually by 2030. It will be developed by using renewable energy.
The duo will work in a joint venture which will also include Eneco Groep N.V, Chubu Electric Power, Norwegian energy company Equinor ASA among others.
According to the companies, "large offshore wind farms will be constructed in the Netherlands that will generate more than 4 million KW of electricity."
The produced renewable power will further produce 1 million tonnes of green hydrogen every year by 2040, as per the reports.
Mitsubishi Corp has already announced that it will invest $16.2 billion in industries by 2030, out of which half of the investment will be for renewable energy.
Meanwhile, Mitsubishi is also looking to develop offshore wind farms in Japan. The plan comes at a time when Japan is focused on clean energy, particularly hydrogen for energy transition.