10 July 2023
Promoter – Financial Intermediary
The project will finance research and development related to solid-oxide (SOEC) electrolysers and the required capital expenditures for its early production capacity.
The aim is to contribute to develop EU-based hydrogen industry, for which it can be considered an enabler. The project caters for the transition to a hydrogen economy, thereby supporting the competitiveness and climate ambitions of the EU heavy industry. Due to its enabling character for the transition to a hydrogen economy, the project fully contributes to Climate Action (mitigation) objective. It meets the objectives of the Green Deal Industrial Plan proposed by the European Commission.
The Project is located in a Cohesion Region, where it will create significant long-term skilled employment.
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 214 million
The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation.
As an extension of existing industrial plants but within their physical boundaries, the project does not fall under the Environmental Impact Assessment (EIA) Directive 2011/92/EU (amended by Directive 2014/52/EU) and an EIA process is not required. Where and if applicable, the requirements of the EIA, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC (to be completed as relevant/applicable) and the requirements of social standards will be verified during appraisal. The Industrial Emissions Directive 2010/75/EU applies.
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 at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation, such rules will have to be applied.
Approved - 15/11/2023