Labour’s first budget in 14 years confirms £2bn for green hydrogen projects

UK Chancellor Rachel Reeves has confirmed £2bn ($2.6bn) of funding for 11 green hydrogen projects totalling 125MW of capacity.

Previously selected for funding under the Conservatives, Reeves, in the first Labour budget for 14 years – delivered by the female Chancellor – confirmed that the revenue support will be carried out.

“Today, I am providing funding for 11 new green hydrogen projects across England, Scotland and Wales,” Reeves said. “They will be amongst the first commercial-scale projects anywhere in the world.”