The European Investment Bank (EIB), one of the world’s largest providers of climate finance, has signed an agreement with the Hydrogen Council to collaborate on developoing  innovative schemes to finance hydrogen projects to address climate change. The Hudrogen Council is  a global initiative of chief executives energy, transport and industry organisations advocating faster deployment of hydrogen solutions.

EIB will provide strategic financial advice and support to companies preparing to deploy large-scale hydrogen projects. The Hydrogen Council is engaging the global investment community, with the belief that developing a hydrogen economy will require annual investments of $20-25 billion until 2030. The two will help to accelerate and facilitate access to funding for a number of hydrogen projects which will benefit from the EIB’s InnovFin Advisory support. 

The agreement will also contribute to identify and source hydrogen investment projects which could be financed by the EIB. The Hydrogen Council and EIB, through its InnovFin Advisory arm (a programme supported by the European Commission to advise companies to structure their R&I projects in order to improve their access to finance) will work together on identifying relevant hydrogen projects.