EU: huge investments by the EIB to promote projects in the green hydrogen sector
The European Commission recently announced the REPowerEU project which includes doubling the European Union's (EU) hydrogen production target and stresses the need to improve the EU's production capacities of equipment such as electrolysers.
In this context, the European Clean Hydrogen Alliance has launched an appeal for project promoters among its members to submit their projects to the EIB. EIB teams will evaluate the information provided and select projects. Presentations are scheduled for late April / early May and will give project promoters the opportunity to present their projects in detail.
The possibility of EIB advisory support for eligible projects will be explored. The development of zero-emission green hydrogen requires significant investment. In the context of the EU, the EIB is a key financing partner. Over the past eight years, the bank has provided over € 550 million in direct financial support to hydrogen technologies, which helped mobilize over € 1.2 billion in overall investments. The EIB has provided advisory support to projects across Europe representing over € 1 billion in potential investment.
Currently, the Bank supports technologies such as electrolysers, catalysts and fuel cells. It also funds large-scale hydrogen production, including electrolysis, carbon capture and storage, and hydrogen stations.The European Clean Hydrogen Alliance supports the large-scale deployment of clean hydrogen technologies by 2030, bringing together renewable and low-carbon hydrogen production, industrial demand, mobility and other sectors, and the transmission and distribution of hydrogen. Aims to promote investment and stimulate the uptake of clean hydrogen production and use. Established in July 2020, the European Clean Hydrogen Alliance is part of the EU's efforts to secure industrial leadership and accelerate decarbonisation industry in line with its climate change goals.
Read the original document on: EIB looking to invest in Hydrogen projects
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