Finance
Air Liquide and TotalEnergies to invest over 1 billion euros in green hydrogen
Published by Global Banking and Finance Review
Posted on February 18, 2025
2 min readLast updated: January 26, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on February 18, 2025
2 min readLast updated: January 26, 2026
TotalEnergies and Air Liquide are investing over €1 billion in green hydrogen projects to decarbonise refineries, reducing CO2 emissions by 450,000 metric tons annually.
By America Hernandez and Alban Kacher
(Reuters) - French oil major TotalEnergies will develop two green hydrogen projects with industrial gases company Air Liquide, aiming to help decarbonise Total's Dutch and Belgian refineries, they said on Tuesday.
The two projects to build electrolysers represent a combined investment of more than 1 billion euros ($1.1 billion) and will cut CO2 emissions from TotalEnergies' refineries by up to 450,000 metric tons annually, the companies said in a statement.
When produced using renewable electricity and through the electrolysis of water - rather than by stripping it from natural gas and releasing CO2 - hydrogen is a greener fuel as it leaves only water and oxygen as byproducts when burned.
This is leading many European governments to include the fuel in plans to replace oil or natural gas in their economies by 2050.
However, high costs and uncertain demand have led many energy companies to freeze projects and pull back investment.
TotalEnergies CEO Patrick Pouyanne has said he would continue to use renewable hydrogen as a feedstock in Total's refineries to reduce net CO2 emissions, though he is reluctant to expand the hydrogen refuelling station fleet from trucks to serving passenger cars before sufficient demand shows it is worthwhile financially.
The first joint project, a 200 megawatt (MW) electrolyser in Rotterdam, will be supplied by TotalEnergies’ wind farms off the Dutch coast and will start operating from the end of 2027, Total said.
It represents a global investment of about 600 million euros for both companies, which have made subsidy requests under European and national programmes.
Air Liquide and Total will also establish a joint venture to build a 250 MW electrolyser project in the Zeeland province of the Netherlands.
($1 = 0.9557 euros)
(Reporting by Alban Kacher; Editing by David Goodman and David Holmes)
The combined investment for the two green hydrogen projects is over 1 billion euros, approximately $1.1 billion.
Green hydrogen will be produced using renewable electricity through the electrolysis of water, which avoids CO2 emissions.
The first joint project, a 200 megawatt electrolyser in Rotterdam, is expected to start operating by the end of 2027.
The projects are expected to cut CO2 emissions from TotalEnergies' refineries by up to 450,000 metric tons.
They will establish a joint venture to build a 250 MW electrolyser project in the Zeeland province of the Netherlands.
Explore more articles in the Finance category
