100% renewable targets will require power storage to manage flows on the net
Electrolysers utilise these intermittent power flows to produce H2 gas from water
H2 gas can be stored in large quantities underground and transported via existing gas pipelines
H2 vehicles recharge faster and are more durable than battery powered transport
Growing H2 demand in industrial processes will reduce costs and increase supply

In a new energy lending policy approved by bank shareholders at a board meeting in Luxembourg the European Investment Bank (EIB) has restricted lending for fossil-fuel projects, by introducing an Emissions Performance Standard (EPS) of 550 grams of CO2 per KiloWatt Hour (g/kWh).

This new EPS will change the way the bank, which is now the world’s largest public lender, does business, although its clean energy impact is yet to be determined. The figure is less than the 420 g/kWh standard introduced in Canada last August, but it is consistent with the EU’s current decarbonisation policy.

Projects alleviating poverty in the developing world, particularly Africa, or providing energy security to Europe’s geographical islands, where no alternative source exists, will probably obtain exemptions from the standard.

Richard Willis, an EIB spokesman, said “the fact that the EIB has been the first institution to put a clear transparent standard in place shows our commitment to investment that reduces emissions across Europe and beyond,” adding that the EIB had “set a lead amongst public banks.”

Source: EurActiv