Mayank Majoka1, Inderjeet Singh Saini2 and Akshat Soni3
Abstract
Green hydrogen is increasingly viewed as a key tool for global decarbonization, especially in hard‑to‑abate sectors such as heavy industry, shipping and long‑distance aviation. Yet the money going into new projects still falls well short of what is needed. Recent estimates suggest a financing gap of about USD 10–40 billion per year through 2030. This paper reviews how green hydrogen projects are currently financed and argues that new blended‑finance structures are essential to close this gap. It focuses on the role of development finance institutions (DFIs), the design of concessional public funding, and specific risk‑mitigation tools that can attract commercial investors. Drawing on recent market studies, policy documents and case examples from India, the Netherlands and other early‑moving countries, the paper shows how targeted public capital can crowd in private finance and make projects in emerging markets more bankable. It concludes with practical recommendations to strengthen international coordination and improve the investment case for green hydrogen in emerging markets and developing countries (EMDCs).
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