EIB backs Indian green hydrogen

The EU’s lending arm plans to increase support for hubs and projects across India with indicative funding of €1bn

The EU’s European Investment Bank (EIB) plans to increase support for green hydrogen hubs and projects across India, indicating funding of €1bn ($1.08bn) pending approval. The bank is exploring a credit facility with the Indian government to provide public sector investment toward the hydrogen sector’s development. India last month unveiled a national green hydrogen strategy focused on decarbonising its 5mn t/yr of grey hydrogen consumption by 2030 and potentially cornering 10pc of a globally traded market by that decade. The country has also been courted by the EU as a potential hydrogen export partner—although the government’s renewables minister has stressed the majority of India’s hydrog