Allan Baker is Head of Power Advisory & Project Finance at Societe Generale, a Hydrogen Council member.
As we round the corner towards the next COP26 in Glasgow, on the tail of the latest IPCC report, we know that hydrogen will play a major role in industry decarbonisation and ultimately achieving climate goals. The technology is ready, there is political backing like never before, and over 350 large-scale projects are in the pipeline globally1 – all of which shows unprecedented momentum. Yet, there are still big challenges to make the clean hydrogen revolution happen – and it starts with securing the market and financing mass scale up.
Scaling up funds
A smart combination of public and private financial instruments is possible, providing unique benefits and impacts. While grants can support innovation or early-stage demonstration projects, public procurement helps scale up the value chain through public sector investment, and instruments such as equity participation allow venture capitalists to play a leading role by investing in early-stage companies with high growth potential. If supported by appropriate long-term regulatory frameworks, these financial tools can help unlock large-scale projects and industry growth.
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