EIB to provide EUR 1 billion for India’s National Green Hydrogen Mission

European Investment Bank (EIB) Vice-President Kris Peeters is visiting India to strengthen cooperation with Indian public and private sector partners and to discuss EIB support for clean energy investment and transport in the country.

“Peeters will confirm EIB’s interest in supporting the recently approved National Green Hydrogen Mission with a facility of up to EUR 1 billion in support of the nascent Indian green hydrogen ecosystem and renewable energy projects,” stated EIB. “He will highlight EIB’s interest in boosting India’s renewable energy ambitions by backing renewable energy generation, as well as enabling technologies and infrastructure for energy storage, power transmission and distribution.”

In February this year, EIB joined the India Hydrogen Alliance (IH2A)— a coalition of global and Indian companies committed to creating a hydrogen value chain and economy in India. It also agreed to increase support for large-scale green hydrogen hubs and projects across India with indicative funding of EUR 1 billion.