Europe’s three major gas transmission system operators (TSOs), Enagás (Spain), Snam (Italy) and GRTgaz (France), have signed an agreement to collaborate on clean hydrogen projects.
As part of the European Union’s decarbonization plans, the three TSOs have acknowledged that hydrogen will play a critical role in the Energy Transition and have agreed to jointly explore additional possibilities for cooperation in this field. European Hydrogen Backbone Initiative members include Enagas, GRTgaz, and Snam, and the group’s most recent report shows that a pan-European hydrogen infrastructure built largely from repurposed existing gas infrastructure is feasible. According to this research, a hydrogen pipeline network spanning 19 EU countries, plus the UK and Switzerland, will be in place by 2040 and cover nearly 40,000 kilometers.
European gas TSOs will play a critical role in the development of the European hydrogen ecosystem by combining their experience in the management of critical infrastructure.
Clean H2 Infra Fund will receive a total investment of approximately 100 million euros from Enagás, Snam, and GRTgaz in their roles as anchor investors.
Hy24, a joint venture between Ardian and FiveT Hydrogen, manages the Clean H2 Infra Fund, which aims to support the clean hydrogen infrastructure sector with a commitment of 1,500-1,800 million euros in partnership with industrial and financial investors. Investment in clean hydrogen infrastructure is the focus of this platform.
With Ardian’s asset management expertise and FiveT’s hydrogen expertise in the hydrogen value chain, as well as the roles and experiences of the three TSOs in energy network management and hydrogen technology, Hy24 brings together the best of both worlds.
For this reason, Enagás has invested in the Clean H2 Infra Fund in order to promote the clean hydrogen industry, which will have a positive impact on hydrogen transmission grids.
According to Marcelino Oreja, CEO of Enagás, “The European Transmission System Operators are key elements in the battle against climate change, and this initiative fits perfectly with the projects promoted by Enagás based on its strategy of contributing a fair energy transition. This consortium is a clear example of joint co-operation between three European TSOs, which have an important role for future decarbonization of energy”.
Marco Alverà, CEO of Snam, commented: “With this agreement, three leading European TSOs commit to working together and contributing to the acceleration of the energy transition across the continent and beyond, in line with the Fit for 55 package and the EU hydrogen strategy. Our existing hydrogen ready networks and storage facilities will play a key role in enabling cost-efficient decarbonization. We are ready to share our capabilities and support new investment initiatives like the Clean H2 Infra Fund in order to boost green hydrogen projects on the road to net zero”.
Thierry Trouvé, CEO of GRTgaz points out: “In the future, hydrogen will play a major role to balance the electric system and in decarbonising industry, as the first lessons of the national hydrogen consultation, launched in France by GRTgaz with Teréga last June show. Industry is expressing a need for reliable access to competitively priced clean hydrogen, and it is therefore interested in the progressive development of a dedicated infrastructure to achieve that”.
Pierre-Etienne Franc, Hy24’s Chief Executive adds: “The joining of key TSO of the European gas infrastructure is a fundamental move for us as it shows the role we are expected to play in support to the whole industry development, from production to distribution and usage. We are honored that the first joint move of this consortium is to select Hy24 Clean H2 Fund as a first investment and expect this will trigger many scale projects on this part of the value chain”.
