EBRD signed an agreement with Ukraine on the use of hydrogen fuel

photo: The European Bank for Reconstruction and Development (EBRD)/EBRD signed an agreement with Ukraine on the use of hydrogen fuel

The European Bank for Reconstruction and Development (EBRD) and GTS Operator of Ukraine (OGTSU) signed an agreement on cooperation in the production of low-carbon hydrogen and the development of its supply chains.

The agreement is a logical continuation of the Memorandum of Understanding signed by the two parties in April 2020, which established a common framework for creating an enabling environment for sustainable investments in the energy sector, reducing greenhouse gas emissions and air pollution.

Ukraine now relies mainly on the use of fossil fuels in all sectors of the economy, while hydrogen can be a good alternative. The EBRD has begun exploring opportunities for the development of various segments of the hydrogen supply chain in the countries in which the bank invests, including in Ukraine.

In Europe, hydrogen produced by hydrolysis of water is considered the most promising clean fuel without leaving a hydrocarbon footprint. In early July 2021, the European Union announced plans to produce up to one million tons of hydrogen at production facilities to be built in the next 4 years.

At the moment, the EBRD has invested about 15 billion euros in the implementation of 500 various projects in Ukraine. The funds should go to improve energy efficiency, develop the agricultural and industrial sectors of the economy, improve the quality of infrastructure and strengthen the financial sector