Over $300 Bn Global Investment in Hydrogen Projects in Pipeline, says Report

A total investment of more than USD 300 billion in hydrogen projects in pipeline globally which is set to be materialized by 2030, including $80 billion worth of projects are currently mature projects, said the new report.

February 22, 2021. By Manu Tayal

A total investment of more than USD 300 billion in hydrogen projects in pipeline globally which is set to be materialized by 2030, including $80 billion worth of projects are currently mature projects, said the new report.

A new report released by the Hydrogen Council in collaboration with McKinsey & Company, “Hydrogen Insights 2021: A Perspective on Hydrogen Investment, Deployment and Cost Competitiveness” offers a comprehensive global perspective on market deployment, investment momentum as well as implications on cost competitiveness of hydrogen solutions.

As of early 2021, more than 30 countries have released hydrogen roadmaps and governments worldwide have committed public funding in support of decarbonisation through hydrogen technologies, and around 228 large-scale projects have been announced, with 85 per cent located in Europe, Asia, and Australia including large-scale industrial usage, transport applications, integrated hydrogen economy, infrastructure, and giga-scale production projects, said the report.

The report anticipated that hydrogen can become the most competitive low-carbon solution in over 20 applications by 2030, including long haul trucking, shipping and steel.

However, to achieve this result, it is essential that governments sustain their commitments to deep decarbonisation, backed by financial support, regulation and clear hydrogen strategies and targets, and translate these into long-term regulatory frameworks. Secondly, deployment approaches must target key “unlocks” such as reducing the cost of hydrogen production and distribution that will have the most significant impact on the rest of the industry, the report suggested.

Commenting on the report, Benoît Potier, Chairman and CEO of Air Liquide and Co-chair of the Hydrogen Council, said “a huge step in the fight against climate change has been taken, as both governments and investors now fully grasp the role hydrogen can play in the energy transition. Now, to bring this potential to its full fruition, governments, investors and industrial companies must work together to scale up the hydrogen ecosystem around the world. Their collaboration in the coming months will allow for many of the projects around the world to become a reality and to turn hydrogen into a new, clean, abundant and competitive energy carrier.”

“Hydrogen can help to unlock deep decarbonisation and achieve global climate targets. The Hydrogen Council is proud to provide comprehensive global data and serve as a knowledge partner not only to the industry but also governments, investors, think tanks, civil society and other key stakeholders working towards a clean energy transition around the world,” said Takeshi Uchiyamada, Chairman of the Board of Toyota Motor Corporation and Co-chair of the Hydrogen Council.

Please share! Email Buffer Digg Facebook Google LinkedIn Pinterest Reddit Twitter
If you want to cooperate with us and would like to reuse some of our content,
please contact: contact@energetica-india.net.
 
 
 
Next events

 

Last interview
 
 
 Energetica India is a publication from Editorial Omnimedia. No reproduction in whole or part of content posted on this website.