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The Government will allocate another 1,600 million to reinforce the green hydrogen sector

Date: February 23, 2024 Time: 22:54:12

The Government of Spain, with the addendum to the recovery plan approved last week, will allocate other funds and the Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera.

This amount will thus double the 1,555 million euros, which in turn will mobilize another 2,800 million euros of private capital, probably taking advantage of European funds to give this new energy boost in the country.

Specifically, calls for support worth 400 million euros have already been launched, one for pioneering and unique renewable hydrogen projects -with a budget of 250 million euros-, and another for the innovative value chain of renewable hydrogen – another 150 million euros-.

In her Twitter account, Teresa Ribera indicates that the promotion of renewable hydrogen through funds, the design of a regulation and the existence of a favorable environment already translate into a portfolio of projects that quadruples the goal of 4 gigawatts (GW). established in the ‘road map’.

The first call of the H2 Pioneros program endowed with 150 million euros/o Demographic Challenge.

The successful bidders include projects from companies such as Cepsa, EDP, Repsol, Enagás or Naturgy, among others, although the flood of requests far exceeded the number of aid sought in the call. Likewise, at the end of May the Ministry launched a second edition of the Incentive Program for pioneering and unique renewable hydrogen projects (H2 Pioneros II), endowed with another 150 million euros.

Flurry of investors in projects and alliances

This announcement occurs in a week in which green hydrogen has become a major protagonist with the flood of investments in projects and the closing of alliances for its development between Spain and the Netherlands, on the occasion of the visit to the country of the Dutch king, William Alexander.

Without going any further, Cepsa announced this Wednesday in Álgeciras, with the presence of the monarch of the Netherlands and King Felipe VI of Spain, as well as Teresa Ribera herself, that it will build the largest green ammonia plant in Europe in its Energy Park of San Roque (Cádiz), thus accelerating its commitment to green hydrogen with an investment that will amount to 1,000 million euros.

The Andalusian Green Hydrogen Valley, the largest green hydrogen project presented in Europe -which will have a production capacity of 2 GW-, is Cepsa’s great strategic commitment, with an investment of 3,000 million euros. Along with this investment, the oil company has also signed collaboration agreements with the Norwegian company Yara Clean Ammonia and the Dutch company Gasunie.

Cepsa’s step is part of the open struggle to lead green hydrogen in the Spanish business sector. In this sense, Iberdrola also announced the construction of a green ammonia plant in Huelva that will involve an investment of 750 million euros, as well as, this Tuesday, an agreement to supply hydrogen to the Netherlands in the form of renewable ammonia to Terminal ACE -port of Rotterdam-.

And it is that the capacities of ACE Terminal confirm the possibilities that the supply of renewable hydrogen to northwestern Europe in the middle of this decade will be more than a reality, before the development of the H2Med gas pipeline, which will cross Portugal and Spain to connect with France and Germany, although the pipeline is not expected to be operational until 2030.

Nor is it far behind in this struggle to lead Repsol renewable hydrogen, which has also taken advantage of these days of Spanish-Dutch courtship to sign an agreement, through Petronor -in its commitment to the Basque Hydrogen Corridor-, for the Development of a European renewable hydrogen corridor along the maritime route linking the ports of Bilbao and Amsterdam.

PERTE

The Government launched the strategic recovery and economic transformation (PERTE) project linked to renewable energies and green hydrogen initially endowed with 6,900 million euros of European funds and later expanded to 7,900 million euros, with the aim of in order to mobilize another 16,000 million euros of private investment.

300 MW to 600 megawatts (MW) in 2024 and 4 GW in 2030, 10% of the community objective, objectives that, in any case, already seem to fall short and could be expanded in view of the planned revision of the National Plan Integrated Energy and Climate (PNIEC) .

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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