KfW IPEX-Bank will finance the expansion and operation of a gas transport pipeline network being developed by Nowega GmbH, a company that wants to convert around 120 kilometres of existing gas transport pipelines to carry green hydrogen.
The Germany-based bank last week (21st Jan) said it will provide debt capital of around €40m, with a further €40m contributed by DekaBank.
“For the energy transition to be successful in the long term, we need alternatives to fossil fuels – hydrogen will play a key role in this process,” explains Markus Scheer, member of the Management Board of KfW IPEX-Bank.
“An important building block in this context is the necessary infrastructure, the establishment of which we are very happy to support with our first-ever financing in this segment.”
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