This interview by Tom Young was first published in Hydrogen Economist.
More than 350 new large-scale hydrogen project proposals have been announced over the past year, according to the latest Hydrogen Insights report from consultants McKinsey and industry body the Hydrogen Council.
This brings the number of large-scale project proposals as of the end of January 2023 to more than 1,000, 795 of which aim to be fully or partially commissioned by 2030.
Giga-scale projects (more than 1GW of electrolysis for renewable hydrogen supply) account for 112 proposals—double the number in the 2022 report.
But less than 10pc of the $320bn of announced investments in all hydrogen projects through 2030 represent actual committed capital in the form of FIDs. However, this is to be expected at this stage of the transition, according to Daryl Wilson, executive director of the Hydrogen Council.
“We are filling a funnel that has many, many steps. It is completely normal that, at the top end of the funnel, there are a lot of projects, and it takes time for them to move through,” he tells Hydrogen Economist.
Read the article in full here.