The European Commission has awarded €720 million in subsidies to seven hydrogen projects across Portugal, Spain, Norway, and Finland. Selected from 132 bids in the first auction under the European Hydrogen Bank initiative, these projects aim to boost renewable hydrogen production to decarbonize sectors like steel, chemicals, maritime transport, and fertilizers. This effort will help produce 1.58 million tons of renewable hydrogen over ten years, avoiding over 10 million tons of CO2 emissions. Kadri Simson, the European Commissioner for Energy, highlighted the auction's role in meeting the EU's 2030 energy and climate targets and fostering green jobs. A second auction is planned for later this year, promising further opportunities for European industry.
Read more here: https://balkangreenenergynews.com/eu-to-back-seven-green-hydrogen-projects-with-eur-720-million/