Despite recent delays and cancellations of projects, the clean hydrogen industry has surpassed $110 billion in investment in more than 500 projects that have moved past the final investment decision, a new report by the Hydrogen Council, has shown. 

Investments in clean hydrogen projects have increased by $35 billion since last year, with the projects now past Final Investment Decision (FID) in construction, or already operational, according to the Hydrogen Council’s first Global Hydrogen Compass report, co-authored with McKinsey & Company.

“This progress is accompanied by natural attrition, as projects with the strongest business cases advance and less viable ones are withdrawn, demonstrating continued maturation across the industry,” the Hydrogen Council said. 

The lobby group acknowledged that about 50 projects have been publicly cancelled in the past 18 months, representing about 3 per cent of the total pipeline since 2020. 

Nigeria is actively exploring clean hydrogen as part of its broader energy transition strategy, aiming to diversify its energy sources, reduce carbon emissions, and position itself as a leader in Africa’s renewable energy sector. 

The government has launched policy frameworks and a strategic roadmap emphasising cross-sector collaboration across energy, transportation, industry, and climate sectors. These efforts align with Nigeria’s national energy transition plan, which targets net-zero emissions by 2060, reflecting the country’s commitment to sustainable energy development. “We are now at a pivotal juncture: accelerating market creation and securing binding offtake agreements must become the priority to ensure today’s projects deliver real impact,” said the Chief Executive CEO of Linde and Co-Chair of the Hydrogen Council, Sanjiv Lamba.

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