More support needed for hydrogen finance – EIB

Credit-enhancing mechanisms and advisory support among recommendations set out in report by European Investment Bank

Significant challenges need to be addressed to create the conditions for the financing of large-scale hydrogen projects, according to a report from the European Investment Bank (EIB). Economic and regulatory conditions must improve to mobilise the financing needed to meet the ambitious EU targets of 20mn t/yr of hydrogen use by 2030, the report says. Some of the report’s recommendations—including the introduction of carbon contracts for difference and the harmonisation of existing regulations—have already been proposed in the European Commission’s RepowerEU legislation. The Commission has also proposed using funding for hydrogen projects under the Innovation Fund. But this funding must be ad