PwC Corporate Finance advises on the procurement of the Aberdeen Hydrogen Hub

The UK Corporate Finance team is pleased to have advised Aberdeen City Council on its joint venture with bp to build a solar power facility connected to a green hydrogen production and refuelling facility (the “Aberdeen Hydrogen Hub”).

Aberdeen City Council embarked upon its hydrogen journey more than 10 years ago and has already demonstrated how demand can be created within cities, using zero emission fuel to power a fleet of 25 buses, 60 public sector vehicles and waste trucks, as well as live events, conferences, and an entertainment complex.

More than two million passengers have travelled on the city’s hydrogen buses, and CO2 savings to date are in excess of 100 tonnes over the last six years.

It is envisaged that the Aberdeen Hydrogen Hub will be developed in phases in response to growing demands for hydrogen. The current phase is for the initial production for public sector consumption including the provision of a supply of hydrogen on a commercial basis to the market to support both existing and proposed transport projects. Future phases could then see production scaled up through further investment to supply larger volumes of hydrogen for rail, freight and marine, as well as supply of hydrogen for heat and potentially export. This would be enabled by the expected increased availability of local renewable energy sources, including offshore wind developments that emerge from the ScotWind leasing round.

Work will now commence on the required front end engineering design work, with the aim of making a final investment decision on the selected development concept in 2023.

“PwC is delighted to have had the opportunity to support ACC during the procurement phase of the Aberdeen Hydrogen Hub project. As the UK hydrogen economy grows in the years ahead, we anticipate that regional collaboration between the public and private sectors will have a key role to play.”

Daniel Earle,Infrastructure and Government Corporate Finance Leader

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Daniel Earle

Daniel Earle

Infrastructure and Government Leader, Corporate Finance, PwC United Kingdom

Tel: +44 (0)7961 102702

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