The European Investment Bank (EIB) has announced a €180m loan to support Portuguese oil and gas company Galp's 100MW green hydrogen production facility at the Sines Refinery in Portugal. Additionally, an extra €250m will go towards Galp's biofuel unit. Galp has made the final investment decision on its green hydrogen project, with production set to commence in 2026, aiming to deliver 15,000 tonnes of green hydrogen annually. This project is expected to become one of the first operational units of its scale in Europe. The EIB highlighted that by backing the production of advanced biofuels and green hydrogen, they are contributing to a more energy-independent Europe that aligns with global climate goals. The US-based electrolyser manufacturer, Plug Power, supplied production units for this project. The hydrogen production plant has the potential to scale up to 600MW in the future to meet the energy demand of the Sines refinery. The total investment in the two projects at the refinery amounts to €650m. The biofuel unit, developed in collaboration with Mitsui, will produce sustainable aviation fuel and hydrotreated vegetable oil. This initiative is a significant step towards sustainability and renewable energy production in Portugal and Europe.