Over 1,500 green hydrogen projects announced across 70 countries

The Hydrogen Council’s Hydrogen Insights 2024 report says 1,572 clean-hydrogen projects have been announced across more than 70 countries, up from just 228 in 2020.

These projects represent over half a terawatt of planned electrolyser capacity valued at around US$680 billion, though only US$75 billion has reached final investment decision (FID).

However, the number of projects that have reached FID or entered operation remains limited.

Flagship plants in Saudi Arabia, China, the United States, and Europe are leading construction, while emerging projects in Namibia and Chile signal geographic diversification.

Cancellations in Australia and delays across Europe illustrate that cost, infrastructure, and offtake remain key hurdles.

The confirmed projects now advancing mark the world’s first wave of industrial-scale green-hydrogen production — setting the foundation for what could become a global clean-energy commodity trade in the next decade.

The International Energy Agency (IEA) reports that total installed electrolyser capacity for dedicated hydrogen production reached about 1.4 GW by 2023 and could rise to 5 GW by 2024.

The announced capacity to 2030 is approaching 520 GW, though less than 4% of this has been entered into construction.