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Credit: Natural Resources Canada

Canada and Germany launch joint initiative to finance renewable hydrogen exports

In an effort to boost the transition to a more sustainable and decarbonised economy, Canada and Germany have joined forces to establish a joint funding window for renewable hydrogen export projects. In this regard, Federal Minister of Economic Affairs and Climate Protection Robert Habeck and his Canadian counterpart, Jonathan Wilkinson, Minister of Energy and Natural Resources, signed a declaration of intent for the second half of the year.

The signing is part of the German-Canadian energy and hydrogen partnership to promote the production and purchase of renewable hydrogen. The signing aims to expand the H2Global auction financing model, which was successfully launched in Germany, to include the Canadian government's willingness to contribute financially to the cost differential.

"We welcome the progress in Canada in the development of several renewable hydrogen and ammonia projects. While some challenges remain, we believe that a common H2-Global funding window can play an important role in closing the remaining price gap. In this way, we are boosting the development of H2 production capacities with the aim of increasing hydrogen availability," Habeck said.

The signing of the H2 Global Memorandum of Understanding (MoU) took place as part of the Hamburg Chamber of Commerce's first bilateral hydrogen buyers' conference, to which ministers invited Canadian hydrogen project developers and German hydrogen buyers.

“Canada and Germany have a long-standing friendship and determination to work together to address climate change, accelerate the global energy transition and strengthen international energy security. Canada has over 100 years of experience in hydrogen innovation and is a global leader in hydrogen fuel cell technology and renewable energy. The announcement is a testament to Canada’s position as a global supplier of choice for clean energy and will enable the creation of sustainable jobs, clean economic growth, emission reductions and energy security at home and abroad,” Wilkinson added.


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