EU’s war response can ‘supercharge’ hydrogen investment – IEA

RepowerEU targets imply extra $1.3tn of investment as Russia’s invasion of Ukraine gives sector’s momentum a major boost, the agency says

Europe’s search for alternatives to Russian energy in the wake of the war in Ukraine could “supercharge” investment in low-carbon hydrogen and drive forward more than $1tn of projects globally by 2030, according to the IEA. The EU has ramped up its target for green hydrogen consumption to 20mn t/yr as part of its RepowerEU policy response to the war in Ukraine. Meeting this demand will require capital investment of c.$600bn globally, with 60pc of this for infrastructure outside the EU. The cost rises to $1.3tn when including the cost of capital to fund the investments, the IEA estimates. “The momentum behind the global low-carbon hydrogen sector has been given a major boost by Russia’s invas