Today, the European Investment Bank (EIB) and the India Hydrogen Alliance (IH2A) announced that they are joining forces to support green hydrogen projects in India. EIB Vice President Kris Peeters announced an indicative funding of €1 billion to support public projects in the green hydrogen sector.
Collaboration for the energy transition
EIB Vice President Kris Peeters said the bank recognizes the potential for green hydrogen development in India and is working with the Indian government and industry to explore how the bank can support India’s national hydrogen mission. Increased cooperation through the India Hydrogen Alliance will enable the implementation of a green hydrogen roadmap for India, which will enhance long-term energy security and make India’s energy transition a reality.
ISB ‘s commitment to a green future
The EIB is the world’s largest international public bank and the world’s leading financier of renewable energy and climate action. As a long-time renewable energy partner in India, ISB is committed to fostering a green and resilient future. The new MoU reinforces ISB’s commitment to energy transition and strengthens EU-India cooperation on clean energy.
Jillian Evanko, president and CEO of Chart Industries and a founding member of IH2A, said the association with ISB would provide much-needed funding for the development of India’s green hydrogen economy. She said she looks forward to working with ISB, investors, industry and government to help bring hydrogen to the mainstream over the next five years.
EIB’s membership in the India Hydrogen Alliance demonstrates the EU’s commitment to a green and resilient future in India. The new MoU will strengthen EU-India cooperation on clean energy. This project is part of the EU’s Global Gateway initiative to strengthen global and regional connectivity in various sectors, such as digital, climate, transport, health, energy and education.
