The European Commission has approved the acquisition of joint control of EEW Offshore Wind EU by EEW Holding and Sumitomo, focusing on the production of large steel tubes for constructing offshore wind farms. The Commission's analysis concluded that the acquisition would not raise competition concerns as it would not significantly affect the market structure. In another move, the EC granted substantial funding to promote green hydrogen production, with €998 million allocated to a Dutch initiative and €80 million to Djewels, a subsidiary of HyCC. This funding aims to support the development of green hydrogen through electrolysis of water using renewable energy. Projects with a minimum capacity of 0.5MW are eligible for the funding, with a bidding process set to conclude in 2024. Additionally, in October 2024, Sumitomo Corporation of Americas and Perennial Power Holdings partnered with CEP Solar to establish a joint venture focusing on developing clean energy projects in Virginia, US, with the goal of bringing to market over 1.5GW of solar and battery storage assets.