The European Investment Bank (EIB) and industry association Hydrogen Europe have signed an agreement for consultancy services for green hydrogen projects.
The agreement ensures that the EIB will provide financing advisory support for hydrogen projects introduced by Hydrogen Europe.
The parties will cooperate on market development initiatives and conduct joint market outreach.
This will also help develop dedicated EIB financing products for green hydrogen.
Hydrogen technology is seen as playing a major part in achieving a carbon-neutral EU economy by 2050.
The European Hydrogen Strategy, which is part of the European Green Deal, wants to enable the widespread use of hydrogen by 2050.
According to the strategy, green hydrogen will be produced on a systemically relevant scale between 2030 and 2050. For that to happen, investments in renewable or low-carbon hydrogen will need to increase.
The strategy expects that between €180 and €470 billion will be required for production capacities in the EU by 2050.
