© Shutterstock / rafapress
© Shutterstock / rafapress

World Bank launches hydrogen partnerships to support developing countries at COP27

The World Bank Group today (November 15) at COP27 in Egypt launched the Hydrogen Development Partnership (H4D), a global initiative to boost the deployment of low-carbon hydrogen in developing countries.

With plans of helping to catalyse on hydrogen financing from both public and private sources, H4D is set to foster capacity building and regulatory solutions, business models, and technologies toward the roll-out of low-carbon hydrogen.

Through the partnership, the World Bank hopes developing countries will gain further access to concessional financing and technical assistance to scale-up hydrogen projects.

H2 View understands the main activities of H4D, to be hosted in the Energy Sector Management Assistance Programme of the World Bank are expected to include:

  • Convening international cooperation to increase the knowledge base in low-carbon hydrogen technologies for developing nations.
  • Building capacities by following a global public goods approach.
  • Understanding requirements from emerging markets and the private sector for the deployment of low-carbon hydrogen and its derivatives.
  • Creating opportunities to inform innovation and for new technologies to gain visibility.
  • Generating policy dialogue on enabling the deployment of low-carbon hydrogen across countries.
  • Fostering collaboration with private sector partners for clean hydrogen projects.

The Hydrogen Transition Summit at COP27, last week, saw public and private financing levers for green hydrogen brought into focus.

Read more: COP27: Public and private financing levers for green hydrogen discussed

It comes as the hydrogen potential of regions such as Africa is made more apparent. Last Friday (November 11) a report by Masdar found that continent could produce 30-60 million tonnes of hydrogen annually. While McKinsey today revealed findings that showed green hydrogen could boost the GDP of six Africa countries by up to 12%.

Read more:Africa could produce 30-60 million tonnes of hydrogen annually

Read more: Green hydrogen can ‘sustainably industrialise’ Africa

Commenting on the launch of H4D, David Malpass, President of the World Bank Group, said, “Low-carbon hydrogen can have a significant role in countries seeking to accelerate their clean energy transition. Our new hydrogen partnership will enable developing countries to prepare low-carbon hydrogen projects and boost energy security and resilience for their people while lowering emissions.”

About the author
Related Posts
Loading feed...
Please wait...