Hamburg forging closer ties to North American energy suppliers

"The U.S. and Canada are strong partners at the forefront of renewable energies," said Leonhard. The province of Newfoundland, for instance, has huge potential in the expansion of wind energy. Their investments and innovations will allow them to play a significant role in the success of a global energy transition. The U.S. is the second largest growth market for renewable energy after China and has good conditions for solar energy, the Ministry for Economics said. The delegation's trip has helped forge even closer cooperation, Leonhard added.

The Inflation Reduction Act (IRA) is the largest climate policy investment scheme in U.S. history and should boost wind and solar energy projects enormously. Technologies for increased storage capacity and to capture carbon will be promoted making green hydrogen production more competitive and available for export. That should benefit Germany, which has to import around 70 per cent of its hydrogen needs via pipelines or as hydrogen derivatives such as green ammonia, green methanol and e-kerosene. The Port of Hamburg is predestined to become a leading European import and distribution centre where infrastructures for seaborne import and storage are being built. Then, sustainable fuels and energy sources can be used in the port as part of the "Sustainable Energy Hub Hamburg" initiative.

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