Germany just took a step closer to finding a long-term, greener replacement for Russian natural gas and coal.
German power producer RWE
(RWEOY) and Norwegian state-owned energy firm Equinor on Thursday announced plans to build hydrogen-fueled power plants in Germany over the next few years, as well as a major pipeline between the two countries to feed them.
The agreement — which is not yet legally binding — is part of Germany’s efforts to phase out all coal-fired power stations by 2030 and decarbonize its energy sector. Berlin has pivoted dramatically away from Russia as a source of energy since its invasion of Ukraine, and needs to find secure alternative suppliers.
“Through this collaboration we will strengthen the long-term energy security for Europe’s leading industrial country,” Anders Opedal, Equinor’s CEO and…