The European Investment Bank (EIB) will back India’s National Green Hydrogen Mission with a substantial loan of up to €1 billion, intending to fortify the emerging green hydrogen sector and renewable energy projects in the country. This information is set to be confirmed by EIB’s Vice President Kris Peeters during his trip to India for G20 events.
The EIB’s support emphasizes its commitment to boost India’s renewable energy objectives, including the expansion of renewable energy generation, energy storage, power transmission, and distribution technologies and infrastructure.
The National Green Hydrogen Mission spearheaded by the Indian government focuses on the augmentation of green hydrogen production. The goal is to generate at least 5 million tons of green hydrogen per annum by 2030.
EIB’s Vice President, Kris Peeters, underscores the bank’s commitment to back significant private and public investments across India, enhance the financial accessibility for entrepreneurs, and address the challenges of climate change. Peeters highlighted India as a pivotal operational base for the EIB and the host for the EIB regional representation for South Asia.
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