Spain doubles cash on offer to its green hydrogen industry with another €1.6bn of support
A total of €1.55bn had already been allocated as part of the country’s post-Covid recovery programme
Spain has put an extra €1.6bn towards green hydrogen in its updated post-Covid recovery, transformation and resilience plan (PERTE), according to the country’s minister of energy and ecological transition Teresa Ribera.
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The government plans to increase the amount of money it will take from the EU’s €723bn post-Covid Recovery and Resilience Facility “to complete the calls for aid, finance tax rebates or other incentives, participation in IPCEI [Important Projects of Common European Interest] consortia or investments and recapitalisation of the entities or companies in charge of developing the projects on the ground”.
This extra finance is on top of €1.55bn that has already been allocated for the green hydrogen the sector.
However, it is not yet known when the European Commission will approve the funding, and when companies will be able to tap into it.
Ribera said that hydrogen developments in Puertollano, Mallorca, Algeciras and Huelva demonstrate that the sector “is not a project for the future, it is a reality of the present”.
She also raised the potential for exports to the rest of Europe by ship or pipeline, highlighting the planned H2Med pipeline network between Portugal, Spain, France and Germany.
Private companies are already gearing up for large-scale production aimed at supplying Germany and the Netherlands.