Hydrogen Net Zero Investment Roadmap
From tackling the energy needs of our most hard to abate industries, acting as a store to help balance our energy supply, and huge potential across transport, low carbon hydrogen is critical to UK energy security, presents a significant growth opportunity, and will help us reach net zero.Â
Moreover, the UK's geography, geology, infrastructure, innovation and expertise make us well suited to develop rapidly a low carbon hydrogen economy, with the potential to become a global leader.
 We have doubled our ambition to up to 10GW of low carbon hydrogen production capacity by 2030, with at least half of this coming from electrolytic hydrogen, drawing on the scale up of UK offshore wind, other renewables and new nuclear.
 Last year we launched our first electrolytic hydrogen allocation round, offering capital support from our Net Zero Hydrogen Fund (NZHF) and revenue support from our Hydrogen Production Business Model (HPBM), and have published a shortlist of 20 projects that we intend to enter due diligence with.
Through this first electrolytic hydrogen allocation round, we expect to award contracts of up to 250MW of new production capacity, which could unlock hundreds of millions of pounds of investment across the UK. We intend to launch a second allocation round in Q4 2023, aiming to award contracts of up to 750MW.
A new hydrogen economy provides opportunities for UK companies and workers across our industrial heartlands. Government analysis suggests that by 2030 the sector could support over 12,000 jobs and unlock up to ÂŁ11 billion in private investment.
Â
Â