このレポートでは、欧米におけるプロジェクト設計、リスク軽減、規制の進展に焦点を当て、資金調達に影響を与える可能性のある主要な変数について概観しています。

 

Report　Description

Attracting financing for green hydrogen facilities and moving them through the various stages of project development remains a major challenge. The proportion of projects that have taken a final investment decision (FID) or begun construction is currently a small fraction of the overall pipeline, representing less than 2% of planned capacity in Europe and the US.

 

While Guidehouse Insights expects this situation to improve in 2023, progress will still favor projects with limited offtake risk and well capitalized backers. Potential financiers must be able to make an informed assessment of the cashflows and risk profile of a project to make a commitment. In most cases, this requires projects to have secured long term offtake agreements with creditworthy counterparties. Green hydrogen projects also present added difficulties to stakeholders familiar with more conventional forms of energy infrastructure, including increased value chain complexity, an uncertain regulatory environment, and a limited track record of technology performance and lifetimes.

 

This report provides an overview of the key variables likely to influence financing, with a focus on project design, risk mitigation and regulatory developments in Europe and the United States.

 

KEY QUESTIONS ADDRESSED

 

WHO NEEDS THIS REPORT

 

TABLE OF CONTENTS

Spark

Context

Recommendations

Financing Remains a Challenge for the Green Hydrogen Sector

Project Developers Must Manage Multiple Sources of Risk

Effective Project Design Is Critical to Reaching FID

Green Hydrogen Projects Must Select a Suitable Offtake Model

Long-term Supply Agreements Will Account for the Bulk of Project Revenues

Uncertain Subsidies Are the Main Impediment to Green Hydrogen Projects in Europe

Green Hydrogen Targets

Criteria for Green Hydrogen Projects

Important Projects of Common European Interest

Carbon Pricing Impacts

The Hydrogen Bank

EU Member State Subsidy Schemes

The Outlook for the US Is Positive, but Challenges Remain

Regional Hydrogen Hubs

Production and Investment Tax Credits

Developers Can Work to Manage and Distribute Project Risks

Uncertain Regulations Will Favor Projects with Demonstrably Low Carbon Intensities

Hydrogen Stakeholders Should Look to Related Industries for Precedents

Risk Sharing Is Key to Project Success

Planning Projects over Multiple Stages Minimizes First-Mover Risks

Working with Early Adopters of Green Commodities Can Spur Project Development

 

LIST OF CHARTS AND FIGURES

Development Phases for a Green Hydrogen Project

 

LIST OF TABLES

PTC Carbon Intensity Thresholds