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
11 February 2025
Multiple production routes and regional policy differences hamper nascent sector’s ability to attract investment
10 February 2025
Plans include a £2.7b export pipeline, but country faces stiff competition from other European suppliers
7 February 2025
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
6 February 2025
US green hydrogen producer Plug Power says its new spot price programme allows buyers to purchase on-demand and without the limitations of long-term agreements