Germany has committed to increase its support for the European Investment Bank’s (EIB’s) Green Hydrogen Fund, showing its dedication to sustainable development and the critical role that hydrogen plays in decarbonising numerous sectors of the global economy.
The contribution signals a deliberate move by Germany to fortify green hydrogen projects in developing countries, aligning with the broader global objective of mitigating climate change whilst boosting economic growth in nations vulnerable to its impacts.
At the heart of the Green Hydrogen Fund is a multifaceted approach that extends beyond financial aid. The fund is designed to provide crucial technical assistance to countries undertaking ambitious green hydrogen projects. This includes support for cutting-edge technologies like electrolysers, catalysts, fuel cells, and the development of infrastructure such as hydrogen production and refueling stations.
The emphasis on technology underscores a commitment to driving innovation within the green hydrogen sector. In the July 2023 revision of its national hydrogen strategy, Germany forecasted a demand for hydrogen to range between 95 and 130 terawatt-hours (tWH) by 2030, anticipating that 50 to 70% of this demand would be fulfilled through imports.
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President Werner Hoyer, in collaboration with the German Ministry of Economic Affairs, envisions a collaborative partnership that transcends monetary contributions. The shared goal is to empower nations to integrate green hydrogen into their climate action plans and to develop the required infrastructure for large-scale adoption. This cooperative approach recognises the need for comprehensive strategies to address the challenges posed by climate change.
Autumn 2023: Germany has unveiled a proposal for a vast network spanning 9,700 kilometers of pipelines. The government is gearing up to implement a 20-year incentives program, slated to extend until 2055, aimed at stimulating both the supply and demand for hydrogen. The announcement came two weeks after the Netherlands began the construction of a hydrogen transmission network
Germany’s strengthened collaboration with the EIB’s development arm, EIB Global, is a clear indication of the nation’s active pursuit of a stable supply of green hydrogen for the future. Chancellor Olaf Scholz has encouraged Germany’s commitment to collaborative efforts with developing nations on hydrogen initiatives, and understands the importance of shared responsibility in addressing global challenges.
Whilst speaking recently at the Compact with Africa meeting, Scholz said the conference was, “the starting signal for stronger, reliable cooperation between Africa and Europe to realise climate friendly supply based on green hydrogen. Produce green hydrogen and you can rely on us as buyers.”
As the world grapples with the urgency of addressing climate change, Germany’s focus on green hydrogen positions it at the forefront of a collective effort to build a cleaner and more sustainable future across diverse sectors of the global economy.
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