From Blueprint to Reality 2026

Public capital-led financing was the most common archetype that emerged out of the clusters engaged. Across all examples, key to success is the innovative use of public capital to drive early- stage project development: –Malaysia: Sarawak H 2 Hub. The Sarawak Economic Development Corporation’s new energy arm and wholly owned subsidiary, SEDC Energy (SEDCE), is integral to project pipeline management and financing coordination in the Sarawak H 2 Hub. SEDCE blends grants, green bonds and international investment to accelerate hydrogen production through shared infrastructure development. SEDCE is the majority shareholder for the H 2ornbill and H 2biscus hydrogen projects within the H 2 Hub. Both projects are slated to supply Japan and South Korea initially, but will subsequently open to other markets and products. SEDCE is collaborating with strategic partners to develop the hydrogen supply chain in Sarawak and is looking to develop facilities for hydrogen refuelling and electrolyser assembly. –India: Mumbai Green Hydrogen Cluster. India’s Ministry of New & Renewable Energy’s National Green Hydrogen Mission has driven cluster formation, providing concessional loans and CfDs. Alongside financing support of up to $1.8 billion committed between the national government and the Asian Infrastructure Investment Bank (AIIB), the Maharashtra Government’s Green Hydrogen Policy provides discounted utilities, stamp duty exemptions and up to 30% capex subsidies.39 This will help the cluster reach its goal of producing 10 kilotonnes of hydrogen per year.Other international examples of public-capital led financing From Blueprint to Reality: A Stronger Business Case for Shared Energy Infrastructure 33