INDIA: EIB BACKS GREEN HYDROGEN DEPLOYMENT AND JOINS

India Hydrogen Alliance

EIB and India Hydrogen Alliance to bring industry, investors and government agencies together on green hydrogen hubs and projects

Indicative funding of €1 billion for large-scale projects in the public sector

EIB working with the Indian government on a credit facility to provide critical public-sector investments supporting the development of the green hydrogen industry

In Mumbai Kris Peeters, Vice-President of the European Investment Bank (EIB), the bank of the European Union, formally agreed to join the India Hydrogen Alliance (IH2A) and increase support for large-scale green hydrogen hubs and projects across India with indicative funding of €1 billion, subject to Indian government and EIB approvals.

Jillian Evanko, President and CEO of Chart Industries and Founding Member of IH2A, said: “We are de lighted to partner with the EIB to bring much needed funding to help develop the green hydrogen econo my in India. Funding for large-scale green hydrogen projects is nascent and the EIB’s participation will help solve a key ecosystem problem. We look forward to working closely with the EIB, investors, industry and the government to help commercialise hydrogen at scale over the next half decade. This is essential to getting the first few steps of the hydrogen transition right, before we look at 2030 scenarios.”

EIB Vice-President Kris Peeters said: “The European Investment Bank recognises the huge potential of developing and reducing the cost of green hydrogen in India. Together with industry, national government and state authorities we are exploring how the EU bank might play a role in supporting India’s National Hydrogen Mission to enable the use of green hydrogen to decarbonise energy, industry and transport. Increased cooperation through the India Hydrogen Alliance will help to implement a national green hydrogen roadmap that delivers India’s energy transition and net-zero carbon plans while strengthening energy security in the years ahead. Joining IH2A builds on the EIB’s global climate engagement and support for climate action in India over the last three decades.”

EU Ambassador to India Ugo Astuto said: “In September the First EU-India Green Hydrogen Forum was held in Delhi during European Commissioner for Energy Kadri Simson’s visit, strengthening EUIndia clean energy cooperation. The European Investment Bank joining the India Hydrogen Alliance today further highlights a Team Europe approach for a green and resilient future, underpinning the EU Global Gateway strategy.”

The European Investment Bank is the world’s largest international public bank and the globe’s leading financier of renewable energy and climate action. As a longstanding partner for renewable energy in India and the largest climate financier in the world, the new memorandum of understanding with IH2A will enable the EIB to further support clean energy investment and back the development of green hydrogen in India. IH2A is focusing on attracting global climate finance for large-scale hydrogen hub development in India, working with the government of India, state governments, global hydrogen players and Indian companies. This memorandum of understanding underpins the Indian government’s confirmation of a $2 billion public finance allocation for the National Hydrogen Mission.

Hydrogen

This will support IH2A in bringing together global climate finance players and funding agencies to work with industry players and government agencies to plan and execute large-scale green hydrogen projects and develop the green hydrogen economy in India. The EIB is currently exploring a credit facility with the Indian government to provide investments in key public sectors supporting the development of the green hydrogen industry. This facility would support the Indian government’s efforts to commercialise upcoming green hydrogen technologies and reduce costs through long-term investment in innovation, R&D, green hydrogen hubs, and pilot projects. The EIB finances green hydrogen investment in Europe and works closely with partners across Africa, Latin America and Asia to accelerate large-scale green hydrogen investment. This project, supporting climate action, forms part of the EU’s Global Gateway initiative supporting projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors.

Source: eib

Acme Group And Ihi Sign Mou To Explore Opportunities In Green Hydrogen And Its Derivatives

Diversified renewable energy company ACME Group and Japan’s comprehensive heavy-industry manufacturer IHI Corporation announced signingof a memorandum of understanding (MoU) to jointly explore the potential business opportunities of green hydrogen.

The intent of this MOU is to jointly study and evaluate potential projects with respect to collaboration opportunities across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation. The MoU allows IHI to participate as an investor or take offtake in one or more project of ACME in Oman, India, USA or Egypt. Both the Companies will also explore opportunities to jointly offer a complete integrated solution to customers from green ammonia supply, bunkering and products or solutions for various applications.

Mr. Manoj K Upadhyay, Founder & Chairman, ACME Group said, “I would like to thank IHI for their commitment to develop renewable projects with us. We will together explore opportunities across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation.”

Mr. Kenji Konno, Country Head Japan, ACME Group said, “This collaboration will strengthen ACME Group’s innovative problem-solving approach by leveraging IHI’s technologies in ammonia value chain. We hope that this collaboration will pave the way to achieve our early global implementation of green and sustainable energy transition.”

Mr. Jun Kobayashi, Executive Officer, IHI Corporation said, “ACME and IHI have a shared vision to develop innovative solutions to produce and supply clean energy to users around the world. With ACME’s extensive experience in developing renewable energy projects and solutions, IHI’s understanding of the green ammonia value chain, and both companies’ passion and willingness to proactively tackle societal challenges and be at the forefront of infrastructure development, we possess the capability to lead the transition to carbon-free ammonia usage across a wide variety of industries.”

Aberdeen Extends Hydrogen Fleet

The contract, initially for 35 vehicles will see the Council operating the largest fleet of hydrogen vehicles in the UK. ULEMCo has supplied heavy duty vehicles to ACC previously, and these have been running successfully on the roads for over a year. This new order, part of a Fleetwide Conversion commitment includes further refuse collection vehicles and road sweepers, but also a wide variety of other utility trucks including tippers and tractors. It demonstrates the flexibility of ULEMCo’s H2ICED hydrogen dual-fuel technology in offering a practical route to saving up to 40% of CO2 emissions across whole fleets today. The converted vehicles will create significant demand for the growing Hydrogen Hub in the region, supporting the Council’s commitment to deliver a thriving hydrogen economy in the area, and creating the demand for more highly skilled jobs.

Part of the contract allows for vehicles to be converted locally, which both contributes to employment in Aberdeen and improves the logistics of moving the vehicles to Liverpool for the upgrade. Hydrogen Hubs make sense in consolidating demand, creating scale and making hydrogen a cost-competitive solution for the decarbonisation of back-to-base fleet operations. Having benefited from investment by Edinburgh-based angel investment syndicate Equity Gap, and with Scotland’s national economic development agency Scottish Enterprise as a shareholder, ULEMCo sees Aberdeen and the rest of Scotland as key areas for investment for their conversion centre roll-out programme. ACC is targeting the assets that are hard to decarbonise such as tractors and tippers, as well as converting further refuse vehicles and sweepers in lieu of any commercially available ‘zero-emission’ alternatives, which are not expected for some time yet.

We’re delighted to announce our first fleetwide conversion contract with Aberdeen City Council, where, over the next 18 months, we shall be enabling 35 vehicles to run on hydrogen dual fuel, with more in planning, says Amanda Lyne (pictured) Managing Director of ULEMCo. “These include vehicles in the existing fleet as well as some new ones that would otherwise be on the road for the next 10 years or so running on standard diesel only. The Council’s investment in our ‘here and now’ solution will help build significant demand for hydrogen, which in turn creates base load demand for scaled investment for infrastructure suppliers to provide more refuelling etc.”

Source: aberdeencity