European Union Approves $7.4 Billion in State Aid to Boost Renewable Hydrogen
02.16.2024 By Tank Terminals - NEWS

February 16, 2024 [The Times Of India]- The EU commission said on Thursday it had approved 6.9 billion euros ($7.4 billion) in state aid for infrastructure projects to boost the supply of renewable hydrogen.

 

The aid provided by seven countries is expected to unlock an additional 5.4 billion euros in private investments, with 32 companies participating in 33 projects, the commission said.

The projects will support the deployment of large-scale electrolysers to produce renewable hydrogen, and pipelines to transport it.

It will also help the development of large-scale hydrogen storage facilities and the construction of handling terminals and port infrastructure for carriers of liquid hydrogen.

“This will establish the first regional infrastructure clusters in several member states and prepare the ground for future interconnections across Europe, in line with the European Hydrogen Strategy,” European commissioner Margrethe Vestager said.

The approval of the aid provided by France, Germany, Italy, the Netherlands, Poland, Portugal and Slovakia marks the third so-called ‘important project of common European interest’ aimed at hydrogen.

 

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