Brakelights for green hydrogen in Europe

The Norwegian fertilizer firm Yara and Finland’s Neste are the latest in a string of companies across Europe to postpone the construction of low-carbon hydrogen plants. Yara has shelved plans to build green hydrogen facilities based on water electrolysis powered by renewable electricity in Porsgrunn, Norway, and in Sluiskil, the Netherlands. In its third-quarter financial results report , the company says that it considers both to be “low-value projects” and that the postponement is part of an ongoing portfolio review. During a conference call with Yara CEO Svein Tore Holsether, Morgan Stanley analyst Lisa De Neve asked about the cause of the delays. He said the go-ahead depends on availability of renewable energy at “the right price,” electric grid connectivity, and a financial system that doesn’t penalize first movers. “We don’t see that at the moment” for these projects, he said. Yara is proceeding with plans to build a US