KfW IPEX-Bank has announced it will provide EUR 150 million in financing to Nowega, a German transmission system operator, for the development of hydrogen and biogas infrastructure. DekaBank is contributing an additional EUR 30 million to the project. The funding will support Nowega’s plans to convert existing gas pipelines for hydrogen transport and expand biogas infrastructure.
Nowega is undertaking a broad investment program focused on upgrading its network to facilitate the future use of hydrogen. Some gas pipelines have already been converted as part of preparations for transporting hydrogen across Germany. In 2020, KfW IPEX-Bank previously extended a loan of EUR 40 million to Nowega for similar purposes.
Aida Welker, Member of the Management Board of KfW IPEX-Bank, stated: "We are very pleased to be able to support our customer Nowega once again. Maintaining and expanding the German and European energy infrastructure is a key concern of our bank, and our financing for the hydrogen core network contributes to the transformation of energy supply as well as to security of supply."
Nowega GmbH operates around 1,500 kilometers of high-pressure gas pipelines with approximately 150 employees. Its pipeline network extends from the Dutch border through Lower Saxony and parts of North Rhine-Westphalia into Wendland, serving as part of Europe’s natural gas transport routes. The company participates in the GET H2 initiative and is involved in multiple projects aimed at developing Germany’s hydrogen network.