Banks Commit to Backing Germany's Largest Hydrogen Project
Key Ideas
- BNP Paribas SA and Canadian Imperial Bank of Commerce have committed to backing one of Germany's largest hydrogen projects.
- Startup HH2E AG is moving closer to its aim of a final investment decision on its 100-megawatts green hydrogen production plant in the Baltic port of Lubmin by October.
- HH2E has engaged BNP Paribas as a debt adviser to create a debt syndicate for financing their initial projects, alongside an equity raise process.
- The involvement of major banks in financing this hydrogen project signals confidence in its viability and bankability.
BNP Paribas SA and Canadian Imperial Bank of Commerce are among the banks that have committed to backing one of Germany's largest hydrogen projects. The startup HH2E AG is aiming for a final investment decision on its 100-megawatts green hydrogen production plant in the Baltic port of Lubmin by October. HH2E has engaged BNP Paribas as a debt adviser to create a debt syndicate for financing their initial projects, and they are also running an equity raise process. The involvement of these major banks in the financing of this hydrogen project is seen as a sign of confidence in HH2E's viability and bankability.