NatWest’s five-year Climate for Transition (CFT) framework will see the UK bank finance £200 billion worth of investments aligned with climate and transition focused finance. Low carbon fuels such as CCS-based and renewable hydrogen and ammonia feature prominently in the framework.
Various elements – different definitions for “green” hydrogen, subsidy structures, and transportation & logistics costs – all contribute to the gap between discovered prices for the H2Global and SECI renewable ammonia auctions. More SECI auction results are expected in the coming days and weeks.
Targeting FID later this year, ATOME has received $50 million in funding support from the Green Climate Fund, and an additional $135 million from the European Investment Bank for its Villeta renewable fertiliser project in Paraguay.
Japan Bank for International Cooperation and Sumitomo Mitsui Banking Corporation will fully finance Mitsui & Co.’s investment in the Blue Point mega-project in the USA. The project – which will entail around $4 billion total investment – reached FID earlier this year.
Following the passage of new legislation in the USA, the timeline has been set for hydrogen and ammonia producers to benefit from 45V tax credits. Construction on renewable hydrogen projects must begin by January 1, 2028, providing a short window of opportunity, particularly for the regional Hydrogen Hubs.
The consensus that has emerged from across the ammonia energy industry carries a very simple message for the IMO: adopt.
Winning projects in the second round of the EU Hydrogen Bank auction have been announced. Requesting production subsidies similar to first round winners, fifteen renewable hydrogen projects will be funded over ten years, including two ammonia projects led by IGNIS in Spain. A third auction round is set to launch later this year.
More than half the awarded funding goes towards ammonia, including GW-scale projects led by Copenhagen Infrastructure Partners and Moeve. IGNIS has also won funding for its maritime fuel-focused project in Coruña.
27 low-emission hydrogen projects have been shortlisted for funding by the UK’s Department for Energy Security and Net Zero, including Statkraft’s marine ammonia fuel project in Shetland. The UK government has also confirmed that it will exempt electricity used in electrolysis from the Climate Change Levy - one of fourteen policy recommendations from the authors of the Splitting the Difference roadmap to reduce the price of producing electrolytic hydrogen in the UK by 58%.
CF Industries, JERA and Mitsui & Co. will jointly invest in, own and operate a $4 billion, low-emission ammonia production project in Louisiana, USA.