Clean-hydrogen subsidy scheme
The UK government opened the world’s first national clean-hydrogen subsidy scheme in July 2022 to help fund an initial 1GW of green H2 and 1GW of blue H2 projects as it aims to reach 10GW of low-carbon hydrogen by 2030.
£240m ($288.5m) of grant funding
A single application process will enable developers to access ongoing revenue support from the government’s Hydrogen Business Model (HBM), as well as up to £240m ($288.5m) of grant funding from the Net Zero Hydrogen Fund (NZHF) to support the upfront costs of developing and building low carbon hydrogen production projects.
Developers have until 7 September to register expressions of interest.
The government says it has committed to “awarding up to 1GW of HBM contracts to electrolytic projects via two allocation rounds in 2023 (opening in 2022) and 2024 (opening in 2023)”.
Energy landscape
This exciting commitment to Hydrogen production to replace current fossil fuel usage and the UK’s move towards Net Zero will change the energy landscape. Power Initiatives are working closely with investors and developers to facilitate this change.
Ricky Rogers said of the hydrogen subsidy scheme
“it’s great to see the commitment to Hydrogen production. We are witnessing rapid technological advancements in how we will transport and use this clean energy source, and we here at Power Initiatives will maximise the Hydrogen potential as it comes on stream in the coming years.”
