KfW exploring options to support Serbia’s green hydrogen sector
October 31 (SeeNews) – German development bank KfW is looking into possibilities to support Serbia’s green hydrogen sector, including potentially leveraging private investments, KfW told SeeNews.
KfW said in a statement emailed to SeeNews on Wednesday, adding that is currently working with Serbia’s mining and energy ministry on developing a joint concept.
The goal is to stimulate a local hydrogen value chain and support Serbia’s decarbonisation efforts,
KfW recalled that the German government is already supporting a first pilot hydrogen project in Serbia which focuses on small scale production for commercial use. The German ministry of economy and climate action has approved funding of 3.5 million euro ($3.8 million) for the 2022-2026 period for local renewable energy firm Leipziger Energiegesellschaft for the construction and operation of an integrated hydrogen pilot plant in Serbia. The project called HyDSerbia lays the ground for subsequent upscaling of green hydrogen production for the region and for eventual export opportunities, KfW noted.
Last week, KfW director for Southeast Europe and Turkey, Klaus Muller, met with Serbia’s mining and energy minister Dubravka Djedovic Handanovic. During the meeting, Muller said KfW is interested to invest in innovative renewable energy in Serbia, including green hydrogen, Serbia’s government said in a press release at the time.
Serbia’s government has defined hydrogen as one of its priority innovative technologies, KfW said in its statement, noting that the country’s National Energy and Climate Plan for the period to 2030, adopted in July, has established a development pathway through policy reforms and infrastructure investments.
($ = 0.920 euro)
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KfW exploring options to support Serbia’s green hydrogen sector, source
