EIB Backs Green Hydrogen Deployment and Joins India Hydrogen Alliance

The Vice-President of the European Investment Bank (EIB) has recently announced its intention to join India Hydrogen Alliance (IH2A). The move is seen as a step towards increasing support for large-scale green hydrogen projects across India and will come with indicative funding of €1 billion, subject to the Indian government and EIB approvals. The EIB and India have expressed a strong commitment to investing in clean energy, and this new partnership aims to facilitate that. With the support of the EIB, IH2A will be able to access innovative financing solutions while driving green hydrogen projects forward. IH2A is currently actively engaging with various public, private and governmental entities in India to create an enabling environment from a regulatory and policy perspective for developing large-scale green hydrogen projects. The Indian government has committed to allocating $2 billion in public finance to IH2A under this memorandum of understanding. This funding will bring together global climate finance players and funding agencies with industry players and government agencies to plan and execute large-scale green hydrogen projects across the country.

resource: https://esgnews.com/eib-backs-green-hydrogen-deployment-and-joins-india-hydrogen-alliance/-india-hydrogen-alliance/