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European Investment Bank joins India Hydrogen Alliance

India Hydrogen Alliance (IH2A) is is working towards the establishment of a sizable hydrogen hub in India.

EIB joined IH2A to increase support for large-scale Green Hydrogen hubs & projects.(Image: Twitter/@Indiah2a)

The European Investment Bank (EIB), known as the biggest international public bank and the top financier of climate change and renewable energy initiatives announced its decision to join the India Hydrogen Alliance (IH2A) on February 8, 2023, in Mumbai.

EIB has also proposed indicative funding of US$ 1.73 billion for large-scale green hydrogen hubs and projects throughout India subject to government approval. The

Speaking on the occasion, EIB vice-president Kris Peeters said, “Together with industry, national government and state authorities, we are exploring how the EU bank might play a role in supporting India’s National Hydrogen Mission to enable the use of green hydrogen to decarbonise energy, industry and transport."

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