Refining and fertilisers require consistent supply of large hydrogen volumes
Too big to start?
Hydrogen projects need to be developed at large scale to secure offtake from end-users wary of security of supply—but this throws up hurdles for financing, argues the EBRD
Over the past year, a wave of hydrogen projects has been announced in the wake of growing government support and pressure on industrial companies to decarbonise their operations. But the sheer scale of hydrogen production needed to secure offtake deals presents significant risks to those financing projects, warns Cristian Carraretto, head of sustainable business and infrastructure, energy transition, at the European Bank of Reconstruction and Development (EBRD), in an interview with Hydrogen Economist. “The challenge is, the nature of this market calls for large scale. Producers need to have big pockets and a big appetite for risk as a first, early mover,” Carraretto says. Offtakers require
Also in this section
2 December 2025
Oil major cites deteriorating demand and a planning debacle as it abandons one of UK’s largest blue hydrogen projects
1 December 2025
Project at Emden in northwest Germany due online in 2027, but wider ramp-up of clean hydrogen sector in Germany will require overhaul of government policy, company warns
25 November 2025
The northwest African country’s vision of integrating green power, molecules and steel is alive and kicking, and serves as a reminder of hydrogen’s transformative potential
19 November 2025
The creation of ‘lead markets’ to generate hydrogen demand in the EU has potential, but implementation would pose complex challenges for producers and industrial offtakers
