April 5, 2024 10:43 PM

German coalition agrees financing details of hydrogen network

Germany's ruling coalition on Friday agreed a financing mechanism for the country's future hydrogen network, extending a deadline for it to be built by five years to 2037 and offering protection for investors in case of bankruptcy. Many countries are betting on hydrogen, which can be used in part to replace natural gas, as they seek to decarbonise their economies and find ways to absorb intermittent renewable supplies into the power grid. Germany, which was heavily reliant on Russian gas until ...