The European Investment Bank (EIB) has joined forces with the Portuguese government to accelerate the development of the hydrogen sector in Portugal.
EIB’s financial support will help to accelerate investments in the sector, while improving the bankability of projects.
“At the EIB Group, we firmly believe that clean hydrogen has the potential to play an important role in achieving the E.U.’s carbon neutral target by 2050 and in promoting the green economic recovery in the context of COVID-19 as we see it as a fundamental enabler to make emissions more environmentally friendly,” said Ricardo Mourinho Félix, vice president of EIB responsible for the bank’s operations in Portugal. “As the E.U. Climate Bank, we will be instrumental in mobilizing and encouraging private investment, making Europe greener and more innovative.”
According to EIB, the hydrogen sector will play an important role in accelerating the energy transition, in line with the Europea