The UK’s prominent hydrogen trade association, the Hydrogen Energy Association (HEA), commends the infusion of an additional £120 million into the Green Industries Growth Accelerator (Giga) fund, as highlighted in the Spring Budget.
Celia Greaves, the CEO of HEA, working closely with the government to shape Giga, expressed that this development marked a significant step forward for the expansion of low carbon manufacturing supply chains in the UK.
Greaves emphasized the potential of the Giga fund to attract billions in private investments within clean energy supply chains, which would be pivotal for the advancement and implementation of hydrogen technologies in the UK. The collaboration between HEA and the Department for Energy Security and Net Zero in providing insights for the funding package aimed at supporting robust, domestically sourced, clean energy supply chains underscores the importance of such initiatives for hydrogen, carbon capture, utilization, storage (CCUS), electricity networks, as well as nuclear and offshore wind sectors.
With a membership base of 120 organizations spanning the entire value chain, HEA’s contributions are poised to enhance the understanding of manufacturing project pipelines and address supply chain challenges. This feedback will aid DESNZ in evaluating the readiness of the hydrogen market for Giga funding, in anticipation of the scheme’s planned launch in the summer of 2024.
The CEO highlighted the era of exceptional growth for the UK’s hydrogen economy, noting that the funding injection could propel the nation to retain its global leadership position in hydrogen investments.
The Giga fund constitutes a vital component of a comprehensive £4.5 billion funding package for manufacturing, aimed at bolstering private sector investments in strategic industries nationwide. Claire Coutinho, the Energy Security Secretary, underscored the government’s commitment to supporting green industries by augmenting the Giga fund, bringing the total investment to over £1 billion.
