26 August 2019
Promoter – Financial Intermediary
The project comprises the large-scale production and distribution of green hydrogen. This will provide fuel to a sizeable fleet of hydrogen fuel-cell electric buses.
The main goal of the project is to accelerate the transition towards zero-emission public transport, specifically hydrogen-powered electric buses. The project is expected to generate a substantial level of environmental benefits in terms of reduced air pollution, greenhouse gas emissions and noise. The project will also contribute to rolling-out of infrastructure for alternative fuels, which is an important step to support the use of alternative fuel vehicles and accelerate the pace towards low emissions mobility. The promoter has sufficient experience in the hydrogen production and distribution business. The promoter is subject to national regulation of its current activities.
The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.
Proposed EIB finance (Approximate amount)
EUR 21 million
Total cost (Approximate amount)
EUR 47 million
Hydrogen-powered electric vehicles are cleaner than the current average vehicle on the market. Substantial benefits in reducing air pollution, greenhouse gas emissions and noise are expected and will be further assessed during appraisal. The hydrogen refueling stations are expected to have limited environmental impact, which will typically be related to noise nuisance and disturbance during construction. After completion, no environmental impact is expected from the ordinary operation of the stations.
No environmental impact assessment (EIA) is required for the project, as it does not fall under either Annex I or Annex II of the EU EIA Directive. Hydrogen refueling stations infrastructure in itself is not subject to environmental impact assessment processes under either Annex I or Annex II of the EIA Directive. However, if applicable, the building of green field parking locations where the hydrogen refueling stations infrastructure is installed may be screened in under Annex II. The EIB will require in those cases to be informed of the screening decision from the Competent Authority. No major social issues are envisaged.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation Directive 2014/25/EU or 2004/17/EC, where applicable, then the EIB would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.
Signed - 21/12/2020