A mammoth $300 billion investment is currently lined up in Hydrogen projects globally that is set to materialize by 2030. Of this, projects entailing investment of $80 billion is already in mature stage, according to a new report.
The report “Hydrogen Insights 2021: A Perspective on Hydrogen Investment, Deployment and Cost Competitiveness” released by Hydrogen Council in collaboration with McKinsey & Company shows over 30 countries have released hydrogen roadmaps and governments have committed public funding for hydrogen technologies.
Globally, 228 large-scale projects have been announced with 85 per cent located in Europe, Asia, and Australia. These include large-scale industrial usage, transport applications, integrated hydrogen economy, infrastructure, and giga-scale production projects.
“If all announced projects come to fruition, total investments will reach more than $300 billion in spending through 2030. Of this investment $80 billion can currently be considered mature,” the report said.
Mature projects are those which are in the planning stage, have passed a final investment decision (FID), or are under construction, already commissioned, or operational.