4. How to secure the project budget?

Project budgeting involves :

• provide a breakdown of total costs (capex and opex);

• apply for and obtain subsidies where possible (Ademe, region...);

• agreeing a budget allocation between the project's financial partners; challenges in this process include costing and uncertainty about future hydrogen demand (which affects revenues and the overall business case for the investment).

To achieve this, the plant operator must :

• draw up, as a first step, a business plan detailing the various costs and revenues of the project, then the assets, liabilities and projected income statement for the project's operating company and lifetime;

• present this business plan to...