EIB and Hydrogen Europe team up on hydrogen projects
European Investment Bank and industry association Hydrogen Europe have signed an agreement for consultancy services for green hydrogen projects, the EIB said in a statement.
The agreement ensures that the EIB will provide financing advisory support for hydrogen projects introduced by Hydrogen Europe.
The parties will cooperate on market development initiatives and conduct joint market outreach. This will also help develop dedicated EIB financing products for green hydrogen. Hydrogen technology is seen as playing a major part in achieving a carbon-neutral EU economy by 2050. The European Hydrogen Strategy, which is part of the European Green Deal, wants to enable the widespread use of hydrogen by 2050.
The strategy expects that between EUR 180 billion and EUR 470 billion will be required for production capacities in the EU by 2050. Alongside the European Commission, Hydrogen Europe is one of the three participants of the European Joint Undertaking on Hydrogen, a partnership working to facilitate the market introduction of clean hydrogen technologies in Europe. Green, zero-emission hydrogen is very costly. In the EU context, the EIB is a key funding partner.
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