Enagas, the gas grid operator in Spain, has received approval to develop the Spanish segment of the H2med hydrogen pipeline, a cross-border initiative involving Spain, France, Germany, and Portugal. The project includes interconnection with Portugal, an underwater pipeline to France, and hydrogen storage facilities. Enagas will collaborate with operators from these countries to bring this ambitious project to fruition. The total cost of Spain's hydrogen initiatives amounts to €4.9bn, with the H2med project requiring €2.5bn in investment by 2030, of which Spain has committed €1bn. The European Commission has acknowledged the significance of these projects by including them in the list of Projects of Common Interest, paving the way for accelerated permitting and access to funding through the Connecting Europe Facility for Energy. Enagas plans to seek financial support through this program. Additionally, the European Commission recently approved a €1.2bn Spanish scheme aimed at boosting investments in renewable hydrogen-based fuels, storage solutions, and renewable electricity generation. The quest for cost-effective renewable energy sources is crucial for successful energy transition, with hydrogen expected to become one of the most affordable options in Europe. According to the International Energy Agency, the cost of hydrogen production is projected to decrease significantly by 2050, reinforcing the potential of hydrogen in the European energy landscape.