Daily News
Spain Approves €800 Million In Grants for Green Hydrogen Projects
Spanish Energy Minister Teresa Ribera has announced the government has approved subsidies of almost €800m for major green hydrogen energy projects. The subsidies, totalling €794m, will go to 7 projects considered by the European Commission to be of regional value and with an overall electrolysis capacity of 652 MW (megawatts), Ribera stated to reporters.
This is the start of Spain’s mission to be a European leader in green hydrogen, making the most of its sunshine and wind to produce clean electricity. According to the minister, these hydrogen projects will encourage investments of over €6bn in their lifespan.
Green hydrogen is seen as vital to decarbonise Europe’s economy in the future, however due to its cost, green hydrogen projects are usually not competitive without subsidies. Ribera has said that these subsidies will support projects that produce green hydrogen close to its consumers, including projects in 5 ‘hydrogen valleys’ in Spain, which will consist of large industrial hubs that integrate green hydrogen production and its use. An example of this would be producing fertilisers or powering refineries.
Around 40% of the subsidies will go to 2 projects managed by oil company Repsol, each with an electrolysis capacity of 100 MW. Almost 30% will go to Spanish utility company Iberdrola, with projects in Puertollano in south-central Spain set to develop 220 MW of electrolysis capacity.
Spain’s draft climate strategy set a goal of 11 GW (gigawatts) for electrolysers by 2030, up from a previous 4 GW.
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