Belgium Boosts Hydrogen Industry with EIB Partnership
Key Ideas
- A memorandum of understanding was signed between Wallonia and the European Investment Bank (EIB) to facilitate cooperation in the hydrogen sector, with the EIB committing to financing and support for projects.
- Wallonia has already made progress in hydrogen initiatives, with projects like Columbus and John Cockerill contributing to the region's advancement in the hydrogen map of Europe and globally.
- The partnership aims to create 250 full-time equivalent jobs in the hydrogen and decarbonisation sector, boost industry with innovative projects, and transfer knowledge through collaboration with universities and research centers.
- The agreement includes plans for collaboration on market needs, identifying priority investments, providing technical assistance, exploring financing structures, and contributing to a low-carbon future in Wallonia.
The Walloon Region in Belgium has forged a partnership with the European Investment Bank (EIB) to enhance the hydrogen industry. The agreement aims to support hydrogen projects in Wallonia by providing financing, guidance, and advice. The EIB, which typically covers up to 50% of project costs through loans, seeks to accelerate the transition to a more sustainable, low-carbon economy. This collaboration strengthens the ties between the EIB and Wallonia, emphasizing the importance of hydrogen in the energy transition and climate policy. Wallonia's strategic hydrogen plan includes projects like Columbus and John Cockerill, which have already received substantial support and are set to position the region prominently in the hydrogen sector. The E-WallonHY project focuses on developing a green hydrogen economy, covering production, storage, transport, and utilization in promising applications. The partnership between Wallonia and the EIB will lead to the creation of 250 jobs in the hydrogen and decarbonisation sector, along with knowledge transfer with universities and research centers. The agreement outlines plans for information exchange, market needs assessment, technical assistance provision, exploration of financing structures, and support for a low-carbon future in Wallonia. This collaboration marks a significant step in advancing the hydrogen industry and transitioning to a more sustainable economy in the region.
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Europe
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Investment
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Partnership
Green Economy
Sustainable Development
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