COP29
Finance community supports renewable hydrogen project
Baku, November 16, AZERTAC
Representatives of international and national development finance institutions have pledged their collective support for the 10 GW Lighthouse Initiative.
This initiative aims to foster collaboration toward bringing renewable hydrogen projects ranging from 100 MW to 1 GW in size in emerging markets and developing countries (EMDCs) to the Final Investment Decision (FID) stage by 2030.
The 10 GW Lighthouse Initiative contributes to the COP-centered “Breakthrough Agenda”, which convenes initiatives and countries to strengthen international collaboration, making clean technologies and sustainable solutions, including hydrogen, the most affordable, accessible, and attractive option in key sectors and regions by 2030.
