On 8 March 2022, the European Commission announced the REPowerEU Communication that includes doubling of the European Union (EU) hydrogen production target and underlining the need to enhance EU manufacturing capabilities of equipment such as electrolysers. In this context, the European Clean Hydrogen Alliance launched a call for project promoters among its members to present their projects to the EIB.
Promoters of electrolyser manufacturing and electrolyser deployment (hydrogen production) projects are invited to provide basic project information using this template. The deadline for submitting completed forms to email@example.com is 5 April 2022. EIB teams will assess the information provided and select projects. Introductions are expected to be held end-April/early May and will give project promoters the opportunity to present their projects in detail. The possibility of EIB Advisory support will be explored for eligible projects.
The development of green, zero-emission hydrogen requires significant investments. In the EU context, the EIB is a key funding partner. Over the past eight years, the EU bank has provided over €550 million in direct financial support related to hydrogen technologies, which have helped mobilise over €1.2 billion in overall investment. The Bank 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 finances 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 by bringing together renewable and low-carbon hydrogen production, demand in industry, mobility and other sectors, and hydrogen transmission and distribution. It aims to promote investments and stimulate the roll-out of clean hydrogen production and use. Set up in July 2020, the European Clean Hydrogen Alliance is part of EU efforts to ensure industrial leadership and accelerate the decarbonisation of industry in line with its climate change objectives.
The European Investment Bank (EIB) will actively contribute to the objectives of theGlobal Renewables and Energy Efficiency Pledge, announced today at the World Climate Action Summit, the gathering of world leaders at COP28 in Dubai. The pledge, which was joined by more than 100 countries, alongside the COP28 Presidency and the European Union, aims to accelerate the pace and deployment of renewables and energy efficiency to limit global warming. It defines new targets for the global installed capacity of renewable energy sources, set to triple by 2030. In addition, it commits to doubling the global rate of energy efficiency improvements from 2% to 4% every year until 2030.
On the occasion of the Global Gateway Forum held in Brussels today, in the presence of Teresa Czerwinska, Vice-President of the European Investment Bank, Ursula von der Leyen, President of the European Commission, and Sheikh Hasina, Prime Minister of Bangladesh, a €350 million EIB loan and a €45 million EU investment and technical assistance grant, were signed to support climate action investments and develop renewable energy generation projects in the country.
At the Global Gateway Forum held in Brussels today, a memorandum of understanding was signed between the European Investment Bank (EIB) and Vietnam to support the implementation of the Just Energy Transition Partnership (JETP) in the country. The signing was attended by Teresa Czerwińska, Vice-President of the EIB; Ursula von der Leyen, President of the European Commission; and Tran Hong Ha, Vietnamese Deputy Prime Minister.