European Commission will allocate 5.2 billion euros for projects on hydrogen technologies development
The European Commission today decided to allocate 5.2 billion euros to support 13 EU countries in implementing hydrogen technology development projects.
The relevant information was published today on the website of the European Commission.
"In accordance with EU state aid rules, the European Commission today approved the second so-called "Important Project of Common European Interest ('IPCEI')," which provides 5.2 billion euros for 13 Member States to support research, innovation, first industrial use, and the construction of the relevant infrastructure of the hydrogen production link… It is expected that budget financing of 5.2 billion euros will pave the way for an additional 7 billion euros of private investment," the message reads.
As noted, the project called "IPCEI Hy2Use" involves the participation of 29 companies in the implementation of 35 projects in the territories of 12 European states. Austria, Belgium, Denmark, Finland, France, Greece, Italy, Netherlands, Poland, Portugal, Slovakia, Spain, and Sweden will participate in this program. Two projects are planned for Norway, a member of the European Economic Area.
The project envisages the creation of hydrogen infrastructure, including high-power electrolysis installations and networks for transporting hydrogen and its storage. In parallel, innovative solutions and technologies will be developed to integrate hydrogen technologies into important industrial sectors to reduce carbon intensity, including the steel industry and cement and glass production.
As expected, the implementation of "IPCEI Hy2Use" will allow wider use of renewable and low-carbon hydrogen sources, reducing the European industry's dependence on natural gas imports.
The project's second stage was approved after the successful completion of its first stage, the so-called "IPCEI Hy2Tech", which was approved by the European Commission on July 15, 2022, and was designed mainly for the introduction of hydrogen technologies in transport.
"Hydrogen can change the rules of the game for Europe. It is the key to the diversification of energy sources and will help us reduce our dependence on russian gas. We need to raise this industry market to the right level – for this, we created the Hydrogen Bank. We will increase our financial participation in Important joint projects of European interest. This will help innovative breakthroughs, provide a positive impetus for the entire EU economy, and provide energy for the future economy," said the President of the European Commission, Ursula von der Leyen.
