Slow year ahead for hydrogen FIDs?
Policy support for green hydrogen expected to take time to materialise for European and US projects this year
The number of hydrogen projects reaching FID in Europe and in the US is unlikely to start rising significantly until late this year or early 2024 as strengthened policy support announced in 2022 could take time to materialise. The EU’s first awards for hydrogen-related Important Projects of Common European Interest (IPCEI) schemes and announcement of a €3bn ($3.2bn) hydrogen bank, as well as the passage of the Inflation Reduction Act (IRA) in the US, were key policy breakthroughs for the industry. They are expected to unlock investment in a sector that is long on project proposals but short on FIDs. Last year, the EU approved state aid worth a combined €10.6bn under two IPCEIs—the first focu

Also in this section
18 June 2025
The country’s green hydrogen sector can gain traction even as the global trade war rages and other headwinds hamper the sector, Mohsen al-Hadhrami, undersecretary of energy and minerals, tells Hydrogen Economist
18 June 2025
UK risks losing out on in race to secure hydrogen imports as its refusal to back ammonia cracking sinks $2.7b Immingham project
11 June 2025
China emerges as clear frontrunner as US growth stalls and Europe burdens its industry with labyrinthine regulations
30 May 2025
Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen