Hydrogen: Investment
The question
To ask the Secretary of State for Energy Security and Net Zero, what steps he is taking to help attract private sector investment into the hydrogen market.
Answered by Michael Shanks
We understand the importance of providing clarity to businesses across the hydrogen sector, including investors. Hydrogen is backed in the Industrial Strategy Clean Energy Industries Sector Plan as a frontier technology, with a public finance offer designed to crowd private investment into UK supply chains.
We plan to publish the Hydrogen Strategy, alongside a package of other hydrogen policy documents, as soon as possible this year. The renewed strategy will set out Government’s vision and objectives for hydrogen, and how we intend to work with industry to continue to transform ambition into action.
In the meantime, we remain focused on delivery, with projects that were successful in HAR1 now moving to the final investment decision and our recent investment in UK electrolyser manufacturing with ITM Power in South Yorkshire.
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