Aquaterra Energy, based in the UK, has teamed up with Seawind Ocean Technology to build HyMed, a floating wind and green hydrogen project off the coast of Italy. By 2027, the project is expected to generate 3.2 GW of power, with more than 1 GW of that composed of green hydrogen. It is currently in the permitting process, with grid connection and environmental impact evaluations underway. The wind and hydrogen assets will be developed jointly by Aquaterra Energy and Seawind.

For the HyMed project, Aquaterra Energy will provide its expertise in offshore engineering and green hydrogen production, and Seawind will offer its knowledge of floating offshore wind technology. Founded in 2005, Aquaterra Energy has helped develop more than 1,000 offshore projects to date in the North Sea, West Africa, South-East Asia, the Caribbean and Australia.

In May 2022, India and Italy announced the development of partnerships in key renewable energy sectors such as green hydrogen, biofuels, and energy storage. The decision was taken in a meeting between the Minister of External Affairs, India and his Italian counterpart. Reportedly, the discussion also covered the implementation of the India-Italy Strategic Partnership on Energy Transition, which was announced in 2021.

REGlobal’s Views: Offshore wind and hydrogen project development in southern Europe offers not only adequate potential for deployment, but also high energy demand regions apt for export. Further, the close proximity to MENA region gives an additional advantage of higher export prospects.