Slow year ahead for hydrogen FIDs?
Policy support for green hydrogen expected to take time to materialise for European and US projects this year
The number of hydrogen projects reaching FID in Europe and in the US is unlikely to start rising significantly until late this year or early 2024 as strengthened policy support announced in 2022 could take time to materialise. The EU’s first awards for hydrogen-related Important Projects of Common European Interest (IPCEI) schemes and announcement of a €3bn ($3.2bn) hydrogen bank, as well as the passage of the Inflation Reduction Act (IRA) in the US, were key policy breakthroughs for the industry. They are expected to unlock investment in a sector that is long on project proposals but short on FIDs. Last year, the EU approved state aid worth a combined €10.6bn under two IPCEIs—the first focu

Also in this section
25 July 2025
Oil major cites strategy reset as it walks away from Australian Renewable Energy Hub, leaving partner InterContinental Energy to lead one of world’s largest green hydrogen projects
23 July 2025
Electrolysis seen as most leakage-prone production pathway as study warns of sharp increase through 2030 and beyond
22 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
16 July 2025
Major manufacturer cancels rollout of new hydrogen-powered vans and strengthens focus on battery electric and hybrid markets