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Image Source : Energyinfra market Screenshot 2024 06 26 161146

EIB to Support State Companies for Green Hydrogen Projects Insight

Last Update 24 October 2024

The European Investment Bank (EIB) is working with public sector enterprises, Power Finance Corporation and Indian Renewable Energy Development Agency Ltd for developing Green Hydrogen projects in India. Earlier an investment of 1 billion Euros has also been made by the EIB joining hands with India Hydrogen Alliance to increase support for large-scale Green Hydrogen hubs and projects across India.

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Renewable EnergyMarket DevelopmentsHydrogenGreen HydrogenGreen EnergyForeign InvestmentEinfews

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Following the European Union’s Global Gateway Initiative to boost global links in energy and transport sectors across the world, the European Investments Bank (EIB) has decided to partner with India Hydrogen Alliance (IH2A) for development of Green Hydrogen projects in India. This initiative aims at creating opportunities for EU member state’s private sector to invest and remain competitive while narrowing the global investments gap worldwide. The Green Hydrogen industries demands extensive power availability for its processes which the current Indian green energy sector is somewhat not at its potential to support, the RE generation projects like Solar and Wind are still in its development phase lacking infrastructural and regulatory framework ceasing the complete utilisation of renewable energy resources in Green Hydrogen industry which is eventually causing hinderance to India’s Green Hydrogen plans. Although, the increase in interest of investors and developers following the global norms and country’s new and adapting regulations has foster the growth of more RE projects to develop exponentially over the period of time. EIB being world’s leading financier of renewable energy and climate action its support to the Indian green energy sector will usher tremendous potential for development of Green Hydrogen projects in India facilitating India’s advancement and global presence in Green Energy.

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