European Commission Approves €111.7 Million Funding for Renewable Hydrogen Production in Greece
Key Ideas
  • The European Commission has approved a €111.7 million Greek government measure to support Motor Oil Hellas in producing renewable hydrogen.
  • Funded through the Recovery and Resilience Facility, the project aims to decarbonize mobility and industrial sectors while kick-starting the hydrogen market in Greece.
  • The project involves the installation of a 50 MW electrolyser at the company's refinery in Agioi Theodoroi, utilizing energy from renewable sources to produce hydrogen for various applications.
  • The aid, in the form of a direct grant, will facilitate the implementation of Motor Oil Hellas' 'Green Hydrogen' project, boosting sustainable fuel production and supporting Greece's transition to green technologies.
The European Commission has approved a €111.7 million funding package from the Greek government to support Motor Oil Hellas in the production of renewable hydrogen. The funding, sourced from the Recovery and Resilience Facility, is part of Greece's overall plan for recovery and resilience. The project aims to drive decarbonization efforts in the mobility and industrial sectors, with a specific focus on promoting the use of hydrogen as a clean energy source. By supporting Motor Oil Hellas in implementing its 'Green Hydrogen' project, which involves setting up a 50 MW electrolyser powered by renewable energy at its refinery in Agioi Theodoroi, the initiative will enable the company to produce renewable hydrogen for various applications, including mobility and industrial use. The European Commission's approval highlights the importance of this project in advancing Greece's hydrogen market and promoting sustainable practices in fuel production. Overall, this funding represents a significant step towards achieving Greece's green energy goals and fostering innovation in the renewable energy sector.
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