EIB works with industry to select hydrogen projects for financing
The European Investment Bank (EIB) announced on July 29 it had signed an agreement with industry association Hydrogen Europe that will help to identify green hydrogen projects that can receive funding from the EU financier.
EIB will provide financing advisory support, cooperate on market development initiatives and carry out market outreach under the agreement, as well as develop dedicated EIB financing products for green hydrogen schemes.
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The European Commission published its hydrogen strategy last year, which calls for the production of 10mn metric tons/year of green hydrogen within the next decade. The strategy also recognises the development of lower-cost blue hydrogen as a means of decarbonising energy systems in the shorter term.
NGW has reached out to EIB for comment on its policy towards blue hydrogen.