Hydrogen: Finance

(asked on 10th October 2022) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he will take to increase levels of investment in Green Hydrogen in (a) Cheshire (b) the UK.


Answered by
Graham Stuart Portrait
Graham Stuart
This question was answered on 18th October 2022

The recent Energy Security Strategy doubled our ambition from 5GW to 10GW of low carbon production capacity by 2030 with at least half of this coming from ‘green’ electrolytic hydrogen. This included a commitment to host yearly electrolytic allocation funding rounds for projects across the UK, which combines Hydrogen Business Model revenue support with optional CAPEX funding through the Net Zero Hydrogen Fund. Together with a clear policy and regulatory environment, we expect to mobilise over £9 billion of private investment in production alone across the UK by 2030, which will benefit the hydrogen economy across the UK.

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