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Letter on hydrogen: Bankable business?
Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen
EU waves through €400m Spanish green support scheme
Scheme will fund up to 345MW of electrolyser capacity through direct grants for up to ten years
European green projects in scramble for subsidies
European Hydrogen Bank auction is four times oversubscribed, while industry remains on pause in US amid IRA subsidy uncertainty
European oil and gas firms refocus hydrogen strategies
Companies reduce spending on hydrogen projects as they struggle to find demand
Hy24 enters North America with StormFisher investment
Leading European hydrogen investor commits $50m to green fuels developer amid continued uncertainty over US renewables policy
Letter from London: Equinor’s renewable reality check
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
US hydrogen industry may ultimately benefit from Trump
Sector awaits clarity on tax credits and loan programmes amid mixed signals from the Trump presidency
Hydrogen Market Databook 2025: Western Europe, part 2
The UK leads Western Europe in terms of active hydrogen project market share, but developments are planned across Italy, Spain, Portugal, the Netherlands and the Nordic countries
Letter on hydrogen: HSBC takes the plunge
Bank’s UK arm signs first deal to finance a green hydrogen developer, but cost and offtake pressures mean the sector remains too risky for many lenders
Letter on hydrogen: Five factors to watch in 2025
From politics to power and pipelines, the year ahead looks challenging for the emerging clean hydrogen sector
Nel has seen major orders from US customers
Norway Finance Corporates
Polly Martin
1 March 2023
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Nel takes FID on US electrolyser plant expansion

The manufacturer pushes further into the US with expansion and planned gigafactory, despite heavy losses over 2022

Norway’s Nel has taken FID on expanding its 50MW electrolyser manufacturing facility in Wallingford, Connecticut to 500MW by 2025. The expansion is estimated to cost NOK60mn ($25mn) and represents a push into the US, as Nel considers sites for a planned gigawatt-scale facility. The gigafactory will produce both alkaline and proton-exchange-membrane (PEM) electrolysers, with around 4GW of total production capacity. “We are considering three attractive alternatives in three different states and will make a final decision shortly,” says Nel CEO Hakon Volldal. The Wallingford facility produces PEM electrolysers, while Nel’s Heroya factory in Norway produces the alkaline variety. While the PEM ve

Also in this section
Oman sees green opportunities amid global trade war
18 June 2025
The country’s green hydrogen sector can gain traction even as the global trade war rages and other headwinds hamper the sector, Mohsen al-Hadhrami, undersecretary of energy and minerals, tells Hydrogen Economist
Letter on hydrogen: Cracking the ammonia code
18 June 2025
UK risks losing out on in race to secure hydrogen imports as its refusal to back ammonia cracking sinks $2.7b Immingham project
Europe should partner with China in clean hydrogen race
11 June 2025
China emerges as clear frontrunner as US growth stalls and Europe burdens its industry with labyrinthine regulations
Letter on hydrogen: Bankable business?
30 May 2025
Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen

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  • Green hydrogen
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