Spain's Green Light for €1.2 Billion Support Boosts Renewable Hydrogen Industry
Key Ideas
- European Commission approves €1.2 billion government support for Spain's renewable hydrogen industry, funded by EU recovery fund.
- State aid to be disbursed by 2025 for production plants to create 'hydrogen valleys' using green hydrogen technology.
- Spain aims to lead in green hydrogen production with a target of 11 gigawatts electrolyser capacity by 2030, surpassing other EU countries.
- Hydrogen Europe praises the Spanish initiative as a step towards establishing the Iberian peninsula as a key player in the hydrogen economy.
The European Commission has granted approval for €1.2 billion in government support to Spain's emerging renewable hydrogen industry, funded through the EU recovery fund post-COVID-19. Spain plans to use this support to develop 'hydrogen valleys' by assisting production plants with 100 megawatts or more capacity. This initiative, based on green hydrogen technology produced from renewable electricity, aims to boost Spain's position as a major green hydrogen producer. The state aid, distributed by competitive bidding until 2025, aligns with the EU's goal of transitioning to a net-zero economy. Spain's national energy and climate plan targets 11 gigawatts of electrolyser capacity by 2030, leading the European hydrogen production race. While the EU aims for 10 million tonnes of green hydrogen annually by 2030, concerns exist over the goal's feasibility. Despite this, the Brussels-based association Hydrogen Europe has commended Spain's effort, seeing it as a significant step towards establishing the Iberian peninsula as a key player in the hydrogen economy. Jorgo Chatzimarkakis, CEO of Hydrogen Europe, expressed optimism about Spain's dedication to green hydrogen, suggesting that Teresa Ribera, the Spanish Vice Prime Minister behind the initiative, may play a crucial role in European climate or energy policy in the future.
Topics
South America
Renewable Energy
Economic Development
Climate Goals
EU Support
Competitive Bidding
National Energy Plan
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