European Commission Funds 15 Renewable Hydrogen Projects, Including Maritime Fuel Solutions
Key Ideas
- The European Commission has allocated €992 million in funding to 15 renewable hydrogen projects across five countries, expected to produce 2.2 million tonnes of hydrogen.
- Three of the selected projects aim to provide renewable hydrogen as fuel for ships, supported by a total of €96.7 million in grants.
- The projects will help in reducing over 15 million tonnes of CO₂ emissions over 10 years, with investments ranging between €8 million and €246 million per project.
- Selected projects are required to start producing renewable hydrogen within five years, with agreements set to be signed by September/October 2025.
The European Commission has approved funding for 15 renewable hydrogen production projects in various sectors, including transportation, chemical industry, methanol, and ammonia production. These projects, distributed across five countries, are set to generate approximately 2.2 million tonnes of renewable hydrogen over a decade, thus contributing significantly to decarbonization efforts by avoiding more than 15 million tonnes of CO₂ emissions. With a substantial allocation of €992 million from the EU Innovation Fund, sourced from the Emissions Trading System, these initiatives mark a significant step towards sustainable hydrogen production. Notably, three of the selected projects are specifically geared towards providing renewable hydrogen for ships, with a dedicated budget of €96.7 million. The European Commission's support extends to ensuring that these projects, with investments between €8 million and €246 million each, commence operations within five years. By promoting the use of renewable hydrogen, the EU aims to drive innovation in the energy sector while fostering a greener future. The projects will play a crucial role in advancing sustainable practices and achieving climate targets, with the potential to revolutionize energy production in the maritime industry and beyond.