Events
Convening Financing to Deploy Large Green Hydrogen Projects in Emerging Markets and Developing Countries: 10 GW Lighthouse Initiative.
The session discussed solutions to address bankability issues for Green Hydrogen projects in EMDCs and the mechanisms to de-risk financing. It showcased the 10 GW Lighthouse Initiative as a solution by MDBs to unlock financing for Green Hydrogen projects in EMDCs.
Dolf Gielen, ESMAP/World Bank presented the 10 GW Lighthouse Initiative in his opening presentation. Referring to the Scaling Hydrogen Financing for Development Report he highlighted the annual investment need for EMDCs of 100 billion dollar per year until 2030 to move projects forwards at the needed speed. So far projects in EMDCs are not developing at the required rate and the funding need is too big for a single MDB. The 10 GW Lighthouse Initiative aims to streamline MDB financing and unite support. The World Bank emphasized the importance of international coordination and public-private partnerships around potential markets in the Global South. The rationale behind the 10 GW Lighthouse Initiative is to create an initial EMDC project base of 100 MW to 1 GW projects through which more than 10 GW total capacity can be realized (FID) in total in the coming years.