The European Commission (EC) has approved a €400 million state aid package to support Spain’s green hydrogen production. This funding will accelerate Spain’s transition to cleaner energy and reduce reliance on fossil fuels. The financial aid will be provided through the Auctions-as-a-Service mechanism of the European Hydrogen Bank, which supports renewable energy projects aimed at decarbonizing industries.
Supporting Spain’s Renewable Hydrogen Initiatives
This funding will enable Spain to establish up to 345 MW of electrolysis capacity. The country will produce up to 221,000 tons of renewable hydrogen annually. The hydrogen production will help prevent the release of around one million tons of CO2 emissions. This initiative supports Spain’s broader goal of installing 12 GW of electrolyzers by 2030.
The financial aid will come in the form of direct subsidies for each kilogram of hydrogen produced. These subsidies will last for a maximum of ten years. Projects must meet the EU’s Renewable Fuels of Non-Fossil Origin (RFNBO) standards, particularly for electricity sources.
A Step Toward the EU Green Deal and REPowerEU
This funding aligns with broader EU initiatives under the REPowerEU program and the EU Green Deal. Similar measures have already been approved for Germany, Austria, and Lithuania. The European Commission also recently approved a €5 billion program for Germany to help companies decarbonize under the EU Emissions Trading Scheme (ETS). These measures are crucial to the EU’s net-zero emissions strategy.
For more updates on renewable energy projects and green hydrogen developments, follow SuperMetalPrice, your trusted source for global metal industry news.
Leave a Reply
You must be logged in to post a comment.