{"id":88309,"date":"2024-11-28T00:00:00","date_gmt":"2024-11-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/11\/28\/germanys-kfw-will-sink-eur-24-bn-in-hydrogen-transmission-network\/"},"modified":"2024-11-28T00:00:00","modified_gmt":"2024-11-28T00:00:00","slug":"germanys-kfw-will-sink-eur-24-bn-in-hydrogen-transmission-network","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/11\/28\/germanys-kfw-will-sink-eur-24-bn-in-hydrogen-transmission-network\/","title":{"rendered":"Germany\u2019s KfW will sink EUR 24 bn in hydrogen transmission network"},"content":{"rendered":"

<\/strong>KfW <\/strong>to shoulder financing + risk for hydrogen network:<\/strong> Germany's state lender KfW is extending an EUR 24 bn (USD 25 bn) loan to develop a 9k km hydrogen transmission network, Reuters<\/a> reports. The federal government will also shoulder about 76% of the loan\u2019s risk. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

The details: <\/strong>KfW plans to keep user fees manageable by compensating operators through an amortization account, with costs expected to be repaid by 2055. As network revenues rise gradually, operators would be expected to redirect surplus income to the amortization account. If the account is not balanced by 2055, the federal government will cover 76% of the risk, with the remaining 24% borne by network operators.<\/p>\n

The pipeline: <\/strong>About 60% of the planned core 9k km network \u2014 set for completion by 2032 \u2014 will be completed by retrofitting existing natural gas pipelines, and the rest will be from new constructions. The German government is banking on green hydrogen to decarbonize hard-to-abate heavy industries like chemicals and steel, Reuters<\/a> reported. <\/p>\n

Is this linked to SoutH2?<\/strong> The SoutH2 Corridor<\/a> is a 3.3k km hydrogen pipeline connecting North Africa, Italy, Austria, and Germany. The project is set to use over 65% of repurposed infrastructure, with new segments only where necessary. The project\u2019s website boasts governments\u2019 \u201cpolitical endorsement\u201d and \u201csupport\u201d from companies involved in hydrogen production and offtake along the corridor. Algeria\u2019s state-owned Sonatrach, Germany\u2019s VNG, Italy\u2019s Snam and Sea Corridor, and Austria\u2019s Verbund are conducting feasibility studies for the implementation of the project.<\/p>\n

\n

\n

Norwegian aluminum giant Norsk Hydro is phasing out its battery materials and <\/strong>green hydrogen divisions,<\/strong> Bloomberg<\/a> reports. The company \u2014 which entered the battery-making business in 2017 with big plans \u2014 said it would still retain its battery recycling operation, a joint venture with the embattled Northvolt<\/a>. Norsk Hydro also held a minority stake in Northvolt. <\/p>\n

The company hasn\u2019t written them off completely: <\/strong>CEO Eivind Kallevik is confident that green hydrogen and batteries \u201cwill play a role in the future\u201d but will \u201cfocus on the core areas\u201d of what the company knows in the meantime, he told BloombergTV. <\/p>\n

A sign of the times: <\/strong>Battery-making and the low-carbon hydrogen sectors<\/a> \u2014 two key sectors for the world\u2019s decarbonization efforts \u2014 have recently taken hits as a result of different factors, including high costs, slower-than-expected demand, project delays, and fierce competition with China\u2019s industries. Just this week, EV battery producer Northvolt filed for bankruptcy<\/a> in the US after failing to secure rescue funding, leaving it with enough cash to support operations for only a week. <\/p>\n","protected":false},"excerpt":{"rendered":"

KfW plans to keep user fees manageable by compensating operators through an amortization account, with costs expected to be repaid by 2055<\/p>\n","protected":false},"author":1,"featured_media":88310,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,11,522,64,39],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-enterpriseclimate","tag-ev-battery-recycling","tag-evs","tag-green-hydrogen","wpautop","entry"],"acf":{"mongo_id":"74718734-16e2-452b-b1ae-85b429c1397f","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1049.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Germany\u2019s KfW will sink EUR 24 bn in hydrogen transmission network","related_issue":[88293],"teaser":"KfW plans to keep user fees manageable by compensating operators through an amortization account, with costs expected to be repaid by 2055","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.a4d0281d-2d2b-46cc-ba84-b9b493322940.mp3"},"yoast_head":"\nGermany\u2019s KfW will sink EUR 24 bn in hydrogen transmission network - 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