October 23, 2025 [Renewables Now]- Austria will provide EUR 274.8 million (USD 320.3m) to support four national hydrogen projects as the country aims to become a central hub for green hydrogen in Europe, the Federal Ministry of Economy said on Monday.

The funding decision by the ministry was made in October 2025, with implementation handled by state-owned promotional bank Austria Wirtschaftsservice GmbH (aws).

The financing scheme is part of Austria’s plan to invest EUR 820 million between 2024 and 2026 in hydrogen production, storage, and infrastructure. The spending is regulated under the hydrogen promotion act.

In addition, Austria is preparing the gas industry act, which will create the legal framework for a national hydrogen starter network and integration into the European hydrogen grid. The law is expected to be implemented by the middle of 2026.

The country is also taking part in the Southern Corridor project, which involves the establishment of a pipeline connection from North Africa via Italy and Austria to Central Europe. A joint declaration with Germany, Italy, Algeria, and Tunisia laid the foundation for bringing green hydrogen on an industrial scale to Austria and Germany by 2035, the ministry said.

The government started the development of a national hydrogen import strategy in September, seeking to ensure future supply routes, partnerships, and investment security, and to strengthen international and European co-operation.

In parallel, Austria supports the phase-out of Russian gas, a decision agreed by EU energy ministers at the Council of the European Union.