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FID on new facility expected in mid-2022
France Project finance Electrolysers
Stuart Penson
Tom Young
27 January 2022
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French electrolyser firms eye IPCEI funding

Mcphy and Elogen take different stances on gigafactory construction as they await EU decision

French electrolyser and hydrogen filling station manufacturer Mcphy has delayed FID on a proposed electrolyser gigafactory at Belfort in northeastern France until mid-2022 as its seeks financial support under the EU’s Important Projects of Common European Interest (IPCEI) scheme. Mcphy had previously targeted the end of 2021 for FID on the plant, but the project “remains conditional on obtaining financing under the IPCEI”, the company says in its 2021 earnings report. The initial timeline was for production to start in the first half of 2024 with a gradual ramp-up to 1GW/yr, taking Mcphy’s total capacity to 1.3GW/yr. The Belfort project, expected to cost €30-40mn ($34-45mn) is one of the fir

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11 June 2025
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Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen
Egyptian green hydrogen in holding position
23 May 2025
Investors remain committed to development but are waiting on greater international market certainty
India bullish on green hydrogen potential
22 May 2025
The government has ambitions to scale up production and become a major exporter by the end of the decade

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