UK will subsidise storage projects
UK eyes 15-year support for H₂ storage projects
Government inclined to guarantee project revenues in bid to reassure investors, according to update from Department for Energy Security and Net Zero
The UK government is inclined to subsidise geological hydrogen storage projects via a support scheme that guarantees a minimum level of revenue for at least 15 years, according to a consultation response published by the Department for Energy Security and Net Zero. However, support is unlikely to be granted to above-ground facilities, or projects based on chemical storage such as ammonia, except under special circumstances, the department added. The government has committed to finalise the design of a subsidy business model for storage by 2025. Its latest consultation response describes this target as “challenging” but also warns of the potential impact of delays to the model. The gove
Also in this section
18 December 2024
Central Asian country’s vast wind and solar resources have attracted a $50b electrolytic hydrogen mega-project aimed at exporting to Europe
17 December 2024
Sultanate prepares to offer international hydrogen project developers more land concessions but refines auction design as global industry sentiment cools
17 December 2024
Siemens Energy and Air Liquide collaborate on first commercial-scale electrolyser to be deployed at an industrial site in Europe
16 December 2024
Sustainable aviation fuel from electrolysis has great potential for reducing aviation sector emissions, but cost, energy requirements and the need for substantial investment stand in the way of take-off
