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Snam, Enagás and GRTgaz enter investment agreement to boost clean hydrogen market
As their first joint action, three energy infrastructure companies Snam (Italy), Enagás (Spain), and GRTgaz (France) have entered into an agreement to launch joint investment initiatives targeted at boosting the clean hydrogen market. All these companies are transmission system operators (TSOs) and will invest 33 million euros each in the Clean H2 Infra Fund, with a role of anchor investors, for a total of approximately 100 million euros.
Clean H2 Infra Fund is an impact fund managed by Hy24, a joint venture between Ardian and FiveT Hydrogen, which aims to support the development of infrastructures for clean hydrogen with a budget of 1,500-1,800 million euros, in partnership with industrial and financial investors. It is the largest global investment platform in clean hydrogen infrastructure, as purported by these three companies.
"With this agreement, three major European grid operators are committed to working together to help accelerate the energy transition across the continent and beyond, in line with the Fit for 55 package and the European hydrogen strategy," he said. commented Marco Alverà, CEO of Snam. "Our transport and storage infrastructures are preparing for hydrogen in order to enable a more efficient decarbonization path - he added - We are ready to share our skills and support new investment initiatives such as the Clean H2 Infra Fund to promote projects in green hydrogen and promote the achievement of zero-emissions targets ".
Enagás, GRTgaz and Snam are already part of the European Hydrogen Backbone Initiative, whose most recent study foreshadows the possibility of creating a pan-European infrastructure for the transport of hydrogen, based on the repurposing of gas networks, spanning 40,000km by 2040, and connecting 19 EU member states plus the UK and Switzerland.
Clean H2 Infra Fund is an impact fund managed by Hy24, a joint venture between Ardian and FiveT Hydrogen, which aims to support the development of infrastructures for clean hydrogen with a budget of 1,500-1,800 million euros, in partnership with industrial and financial investors. It is the largest global investment platform in clean hydrogen infrastructure, as purported by these three companies.
"With this agreement, three major European grid operators are committed to working together to help accelerate the energy transition across the continent and beyond, in line with the Fit for 55 package and the European hydrogen strategy," he said. commented Marco Alverà, CEO of Snam. "Our transport and storage infrastructures are preparing for hydrogen in order to enable a more efficient decarbonization path - he added - We are ready to share our skills and support new investment initiatives such as the Clean H2 Infra Fund to promote projects in green hydrogen and promote the achievement of zero-emissions targets ".
Enagás, GRTgaz and Snam are already part of the European Hydrogen Backbone Initiative, whose most recent study foreshadows the possibility of creating a pan-European infrastructure for the transport of hydrogen, based on the repurposing of gas networks, spanning 40,000km by 2040, and connecting 19 EU member states plus the UK and Switzerland.
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