Carlton Power Intends for a New Hydrogen Center Point in the UK
- 05-Sep-2022 6:05 PM
- Journalist: Patrick Knight
The UK- Carlton Power group is one of the significant energy-producing plants in the UK focusing on the net zero policy. According to the net zero policy, the company aims to decrease its dependency on fossil fuels and petroleum derivatives which releases carbon into the environment. Furthermore, Hydrogen can act as a resource for energy production. Carlton Power has already established two power plants: Langage gas power station and Langage solar farm in Devon, UK. With the estimated limit of 10 Megawatts, the organization plan to develop its third Hydrogen hub in Devon in the Southwest region and accomplish its total production capacity by the next two years. Establishing a plant will increase the number of products as the demand for Hydrogen is also rising in the regional market.
As of now, the market prices of Hydrogen are following the stagnancy in the regional market with minor fluctuations depending upon the natural gas prices. With the establishment of this plant, the availability of Hydrogen gas in bulk quantity would become easy and accessible in different locations of the country. According to the official statement released by the company, the demand for renewable energy sources has supported the prices of Hydrogen in the regional market. Furthermore, to achieve the target and ensure the product's availability with local bodies, Carlton Power group will collaborate with Regen and other neighboring stakeholders.
Other facets governing the market prices of Hydrogen and the production of the same are the requirement and the concern of rising natural gas prices in the coming days. Green Hydrogen will act as an alternative and effective method to reduce carbon emissions and energy production. The transportation sector is the major reason for carbon emission, consequently increasing the demand for Hydrogen and conquering the net-zero target. The momentum in prices of Hydrogen may oscillate depending on the natural gas prices. The country's economic status and the imposition of sanctions will favor the demand-supply chain of Hydrogen in the country.
As per ChemAnalyst, decarbonatization is a crucial step that has to be followed by the government of the UK, and implementing this new green Hydrogen plant will aid in lowering the carbon content in the environment. The price dynamics of Hydrogen in the UK market are likely to decline in the upcoming days due to escalated demand and production costs.