Accelerated Global Expansion of Clean Hydrogen: European Investment Bank and Germany Boost Green Hydrogen Fund
The European Investment Bank (EIB) Global, in collaboration with the German Ministry for Economic Affairs, has announced an expansion of the Green Hydrogen Fund. This development underscores a significant boost in financial capacity to support large-scale green hydrogen projects, accelerating the transition to clean energy across Europe and globally.
The Green Hydrogen Fund, established in 2021, is designed to bridge the gap between innovative projects and the economic development of countries most affected by climate change. It provides investment grants for projects perceived as too risky by traditional investors.
Over the past decade, the EIB has invested over €1 billion in hydrogen technologies, mobilising over €2 billion in overall investment. The Fund supports technologies such as electrolysers, catalysts, and fuel cells, and finances large-scale hydrogen production, including electrolysis, carbon capture and storage, and hydrogen stations.
The expanded Green Hydrogen Fund is expected to attract approximately three to 100 times the amount of grant money in follow-on investments. This additional funding will help reduce the financing gap for large-scale green hydrogen projects.
Werner Hoyer, EIB President, stated that green hydrogen can help industries reduce their carbon footprint. The Fund contributes to the global energy transition, sustainable and emission-free economic development, and the achievement of climate goals.
The expanded Fund will also offer investment grants in addition to strategic advice and technical assistance. This will catalyse private sector investments by de-risking early-stage projects and enabling innovative business models, such as hydrogen-as-a-service.
The Fund aims to enhance EU energy security and subsidise investments and advisory services along the entire value chain of green hydrogen. It serves as a platform for collaboration with other development banks and private financial institutions.
The expanded Green Hydrogen Fund is a crucial step in the international ramp-up of the hydrogen economy, accelerating the global ramp-up of clean hydrogen. It aligns with wider EU climate targets and global decarbonization efforts.
For the most recent updates on the exact funding figures and program features post-Germany and EIB contributions, please refer to recent EU or EIB press releases or official announcements.
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- The European Investment Bank Global, in collaboration with the German Ministry for Economic Affairs, has announced an expansion of the Green Hydrogen Fund, a move that signifies a substantial increase in financial capacity to support large-scale hydrogen projects.
- This expansion is designed to bridge the gap between innovative projects and the economic development of countries most impacted by climate change, offering investment grants for projects that traditionally lack funding due to perceived risk.
- Over the past decade, the EIB has invested over €1 billion in hydrogen technologies, mobilizing over €2 billion in overall investment, and the expanded Green Hydrogen Fund is expected to attract approximately three to 100 times the amount of grant money in follow-on investments.
- This additional funding will help to reduce the financing gap for large-scale green hydrogen projects, supporting technologies such as electrolysers, catalysts, and fuel cells, and financing large-scale hydrogen production methods like electrolysis, carbon capture and storage, and hydrogen stations.
- According to Werner Hoyer, EIB President, green hydrogen can help industries reduce their carbon footprint, contributing to the global energy transition, sustainable and emission-free economic development, and the achievement of climate goals.
- The expanded Fund will also offer investment grants along with strategic advice and technical assistance, catalyzing private sector investments by de-risking early-stage projects and enabling innovative business models such as hydrogen-as-a-service, and enhancing EU energy security by subsidizing investments and advisory services along the entire value chain of green hydrogen.
