Over €400 Million In Hydrogen Funding Approved For EU

This week the European Commission has approved a total of €436 in state aid funding to support the production of renewable hydrogen, specifically in Austria and Lithuania. Under a competitive bidding process, companies from the 2 countries will be required to apply for the funding in 2025 before they can begin building electrolysers. Funding will be provided based on the amount of hydrogen produced and companies will have to show that they comply with EU criteria for the production of renewable fuels.

The scheme will benefit Europe as a whole, contributing towards the EU Hydrogen Strategy and the Clean Industrial Deal, both aimed at the strengthening and decarbonisation of EU industry. As well as accelerating the energy transition, it is hoped they will leave Europe less reliant on fossil fuels from Russia.

Under the plans, Austria aims to produce 112,000 tonnes of hydrogen and Lithuania aims to produce 13,000 tonnes, boosting the overall supplies in Europe considerably. To find out more about how hydrogen energy projects can support the energy transition, click here.

You can also read more about exciting renewable energy projects using hydrogen here and here or keep an eye on the Institute’s Daily News feed for future updates.

Source

reNEWS.BIZ