Brussels approves $5.2 billion for EU hydrogen projects
The European Commission has announced that the Netherlands and 12 other EU member states have together invested €5.2 billion in 35 public-private projects to develop green hydrogen production from electrolysis and build the infrastructure to do so. According to EU Commissioner Margrethe Vestager, these are “very ambitious” projects. “The hydrogen value chain in the EU is still in its infancy,” Vestager said. “That makes it risky for companies and member states to invest in such an innovative market.”
29 companies and 13 EU member states are collaborating on a global project called Hy2Use. Government subsidies totalling €5.2 billion will be complemented by private investment totalling €7 billion. Air Liquide Netherlands, HyCC, Shell and others are involved. The first large-scale Hy2Use hydrogen electrolysis plant is expected to be commissioned between 2024 and 2026.
The European Commission relies on green hydrogen and wants to substantially increase its production in the EU. According to President Ursula von der Leyen, renewable hydrogen is a ‘gamechanger’. Last week, we announced the creation of a European Hydrogen Bank to help develop the hydrogen market. The bank now has €3 billion at its disposal. The other 12 countries collaborating on Hy2Use are Austria, Belgium, Denmark, Finland, France, Greece, Italy, Poland, Portugal, Slovakia, Spain and Sweden.