Common Futures supported a large international developer of offshore wind projects in an analysis of how Power-to-Hydrogen investments can contribute to developing a robust business case for offshore wind projects in the North Sea.
A large scale-up of offshore wind capacity in the North Sea is expected. However, significant uncertainty exists on how electrification of energy demand will develop up to 2030. A matching development of supply and demand would ensure a business case for offshore wind. If electrification does not develop as foreseen, growth in offshore wind can negatively impact power prices, thereby putting at risk the business case for offshore wind. Common Futures showed how investments in green hydrogen production can reduce uncertainties and thereby help build a robust, integrated business case for offshore wind farms. For this, a hydrogen price model and a European hydrogen outlook were developed.
