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In 2020, Crédit Agricole CIB joined the Hydrogen Council. Régis Leenhardt, Senior Banker, explains what the challenges around hydrogen are as part of the energy transition.

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The role of hydrogen in the energy transition

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The role of hydrogen in the energy transition | Crédit Agricole CIB

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<body>In 2020, Crédit Agricole CIB joined the Hydrogen Council. Régis Leenhardt, Senior Banker, explains what the challenges around hydrogen are as part of the energy transition.</body>

<body>The role of hydrogen in the energy transition</body>

Green finance

<body><subtitle-block>EMEA Sustainable Finance House</subtitle-block>“For its notable market share gains in 2025, its leading role in establishing the new dark green European Green Bond, the first statutory ESG bond, and a host of nuclear green and biodiversity landmarks, Crédit Agricole CIB is IFR’s EMEA Sustainable Finance House of the Year.” (according to IFR.)<a @href="Quote1">Quote1</a>Read IFR’s full write-up <a @href="https://www.ifre.com/ifr-awards/2333264/emea-sustainable-finance-house-credit-agricole-cib">here</a>.<subtitle-block>APAC Sustainable Finance House</subtitle-block>“As many international banks pulled back from ESG financing, Crédit Agricole CIB stayed true to its principles and strengthened its leadership position, making it IFR's Asia Pacific Sustainable Finance House of the Year.” (according to IFR)<a @href="Quote2">Quote2</a>Read IFR’s full write-up <a @href="https://www.ifre.com/ifr-awards/2333266/asia-pacific-sustainable-finance-house-credit-agricole-cib">here</a>.</body>

<body>The International Financing Review (IFR) awards are among the most highly regarded in the banking and capital markets industry. This is the tenth year that Crédit Agricole CIB is recognised in the Sustainable Finance arena - an exceptional result in a competitive market, and recognition of our longstanding commitment and leadership in Sustainable Finance.</body>

Crédit Agricole CIB was named Sustainable Finance House of the Year for both EMEA and APAC at the 2025 IFR Awards

<body><subtitle-block>EMEA Sustainable Finance House</subtitle-block>“For its notable market share gains in 2025, its leading role in establishing the new dark green European Green Bond, the first statutory ESG bond, and a host of nuclear green and biodiversity landmarks, Crédit Agricole CIB is IFR’s EMEA Sustainable Finance House of the Year.” (according to IFR.)<a href="Quote1">Quote1</a>Read IFR’s full write-up <a href="https://www.ifre.com/ifr-awards/2333264/emea-sustainable-finance-house-credit-agricole-cib">here</a>.<subtitle-block>APAC Sustainable Finance House</subtitle-block>“As many international banks pulled back from ESG financing, Crédit Agricole CIB stayed true to its principles and strengthened its leadership position, making it IFR's Asia Pacific Sustainable Finance House of the Year.” (according to IFR)<a href="Quote2">Quote2</a>Read IFR’s full write-up <a href="https://www.ifre.com/ifr-awards/2333266/asia-pacific-sustainable-finance-house-credit-agricole-cib">here</a>.</body>

<body>Opus Solar was successfully awarded capacity during the Philippines’ second Green Energy Auction Programme held in 2023, and it will benefit from a 20-year Renewable Energy Payment Agreement (REPA) with the government-owned National Transmission Corporation.The financing includes a US$210 million green loan facility, featuring a guarantee facility to backstop the project’s existing performance bond issued to the Department of Energy Philippines, as part of the post auction requirements. This is the first US dollar-denominated project financing in the Philippines' renewable energy sector funded entirely by international banks, paving the way for similar financing structures across the country’s clean energy industry.Vena Energy, the renewable energy arm of Vena Group, is a Singapore-based major green energy company with a renewable power portfolio of 38GW across onshore wind, solar, and offshore wind projects. In the Philippines, Vena Energy established its presence over 10 years ago and has a portfolio of over 3 GW renewable assets across the country.In its first-ever project financing in the Philippines’ renewable energy sector, Crédit Agricole CIB acted as Mandated Lead Arranger, Lender, and Modelling Bank in this transaction.Committed to the global energy transition, Crédit Agricole CIB is proud to support clients in this emerging renewable energy market, where the Bank sees potential for strong growth on the back of abundant renewable resources, ambitious decarbonisation targets, and solid government support. The Philippines targets to increase its renewable energy mix to 35% by 2030 and 50% by 2040.<a @href="Quote1">Quote1</a><a @href="Quote2">Quote2</a><a @href="Quote3">Quote3</a></body>

<body>By supporting Vena Energy’s 300 MWp Opus Solar energy project in northern Luzon, Philippines, Crédit Agricole CIB breaks new ground in the country.</body>

Crédit Agricole CIB completes its first renewable financing in the Philippines for Vena Energy

<body>Opus Solar was successfully awarded capacity during the Philippines’ second Green Energy Auction Programme held in 2023, and it will benefit from a 20-year Renewable Energy Payment Agreement (REPA) with the government-owned National Transmission Corporation.The financing includes a US$210 million green loan facility, featuring a guarantee facility to backstop the project’s existing performance bond issued to the Department of Energy Philippines, as part of the post auction requirements. This is the first US dollar-denominated project financing in the Philippines' renewable energy sector funded entirely by international banks, paving the way for similar financing structures across the country’s clean energy industry.Vena Energy, the renewable energy arm of Vena Group, is a Singapore-based major green energy company with a renewable power portfolio of 38GW across onshore wind, solar, and offshore wind projects. In the Philippines, Vena Energy established its presence over 10 years ago and has a portfolio of over 3 GW renewable assets across the country.In its first-ever project financing in the Philippines’ renewable energy sector, Crédit Agricole CIB acted as Mandated Lead Arranger, Lender, and Modelling Bank in this transaction.Committed to the global energy transition, Crédit Agricole CIB is proud to support clients in this emerging renewable energy market, where the Bank sees potential for strong growth on the back of abundant renewable resources, ambitious decarbonisation targets, and solid government support. The Philippines targets to increase its renewable energy mix to 35% by 2030 and 50% by 2040.<a href="Quote1">Quote1</a><a href="Quote2">Quote2</a><a href="Quote3">Quote3</a></body>

<body>To help clients stay ahead of the curve by seizing opportunities, the Bank hosted industry leaders, investors, and innovators in Mumbai to explore the latest trends in those sectors, covering macro backdrop, application of technologies, regulatory regime, and investment dynamics. The session featured keynotes from Crédit Agricole CIB and SBI Mutual Fund, India's largest asset manager and a joint venture between Amundi and State Bank of India. Here we bring you a summary of the perspectives.<subtitle-block>The macro backdrop: positive structural drivers</subtitle-block>India is the world's 4th largest economy, nevertheless the per capita energy consumption remains just one-third of the global average. Rising living standards are driving increasing power demand and substantial growth in the energy sector. The Government of India has set a target of 50% renewable energy in its mix by 2030, backed by renewable power prices lower than new-build coal, thanks to affordable land in resource-rich regions, declining installation costs, and abundant natural resources.As the world's 4th largest renewable energy producing nation, India is amongst the top 5 globally for solar resources and wind capacity.<subtitle-block>Investment outlook: catalysts and opportunities</subtitle-block>The Government of India has implemented several policy initiatives to attract investment: strengthening legal frameworks, establishing transparent e-auction processes for project tenders, and allowing 100% foreign ownership in key infrastructure sectors. The investment target of US$1.7 trillion by 2030 in infrastructure mainly concerns the following sub-sectors:<ul><li>Renewables: Annual additions of ~35-40 GW, requiring ~US$150 billion over the next 5 years.</li><li>Transmission (physical and technical systems that transmit power, signals, or information from one point to another): US$100-120 billion in new investments through 2032.</li><li>Smart meters (digital devices that record electricity consumption and transmit the data automatically to energy suppliers): 250 million units targeted by 2026, ~US$20 billion.</li></ul><subtitle-block>The future of energy transition: BESS and hydrogen</subtitle-block><ul><li>Battery Energy Storage System (BESS)</li></ul>By 2030, renewables will generate almost 30% of global electricity supply, double today’s level. This calls for a rapid increase in power system flexibility and grid investment. Growing electrification and demand-side flexibility (smart chargers, heat pumps), storage and dispatchable power plants will be increasingly needed to integrate wind and solar energy securely and cost-effectively.<ul><li>Hydrogen</li></ul>Low-carbon hydrogen and fuels are an important part of net-zero policies, particularly as regards hard-to-abate sectors - shipping, aviation, industry. High costs remain the main obstacle: low-carbon hydrogen maintains a significant high premium over grey hydrogen. Demand-side policies are needed globally to encourage companies to sign offtake agreements. With a competitive cost of renewable energy, India is expected to be one of the most affordable producers of green hydrogen globally.<subtitle-block>Our commitment to India</subtitle-block>Building on Crédit Agricole Group's presence in India since 1877 and Crédit Agricole CIB's strengthened franchise, the Bank is well positioned to support the country's ambitions.The recent capital increase and opening of our GIFT City Branch have enhanced our product offering for local and international clients operating in and outside India, with increased domestic lending capacity and expanded foreign currency solutions.Through close relationships with sponsors investing significantly in India's infrastructure across the entire value chain, combined with expertise in structuring complex transactions and global ESG leadership, the Bank is strongly positioned to support the country's energy transition.With sector expertise including advanced trends such as BESS and hydrogen, and comprehensive solutions spanning the full asset lifecycle, Crédit Agricole CIB is strategically placed to serve as a one-stop shop, offering advisory, structuring, financing, hedging, and more. </body>

<body>India is one of the most attractive destinations for long-term energy transition and infrastructure investment, supported by ambitious national targets, very strong market fundamentals, and accelerating capital deployment from global investors.</body>

The role of hydrogen in the energy transition

Crédit Agricole CIB was named Sustainable Finance House of the Year for both EMEA and APAC at the 2025 IFR Awards

Crédit Agricole CIB completes its first renewable financing in the Philippines for Vena Energy

Crédit Agricole CIB’s first ever Energy Transition & Infrastructure event in India