9,626.56 TRY BIST 100 BIST 100
4.85 CNY CNY CNY
35.17 USD USD USD
36.61 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
43.41 TRY Interest Interest
73.03 USD Fossil Oil Fossil Oil
29.72 USD Silver Silver
4.09 USD Copper Copper
100.31 USD Iron Ore Iron Ore
355.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,620.19 TRY Gold (gr) Gold (gr)

Green steel support of €370 billion for Italy from the European Commission

The European Commission has notified that it will provide funding to support Italy's green steel production.

Green steel support of €370 billion for Italy from the European Commission

In early February, the European Commission announced that it has approved nearly €7 million in state aid funding for hydrogen infrastructure projects in 7 EU countries. The IPCEI Hy2lnfra project, which includes France, Germany, Italy, the Netherlands, Poland, Portugal and Slovakia, will establish the first regional infrastructures in many member states and prepare the ground for a Europe-wide European Hydrogen Strategy.

The project includes the construction of two electrolyzers with a capacity of 160 megawatts, the facilties in Brindisi and Taranto are expected to produce about 250 million cubic meters of green hydrogen per year and will provide clean fuel to local industry, especially the Apulia steel production center. Green hydrogen produced in the project will be accessible via a hydrogen pipeline to be built by Snam and operations will start in 2028.

The IPCEI funding supports green hydrogen and the Puglia Green Hydrogen Valley decarbonization projects, Sosteno SGR announced, adding that they have completed work to build hydrogen-based DRI plants for the production of carbon-free steel, led by DRI D'Italia, owned by the Italian company Invitalia, in the steelmaking process.

It is envisaged that the IPCEI Hy2lnfra project will support and lead the development of green hydrogen production in Europe.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Emirates Steel has announced a price increase for its rebar products

Tuesday, December 24, 2024

An agreement has been signed on the full restoration of the Donetsk Metallurgical Plant

Tuesday, December 24, 2024

Egypt invites Canadian investments to boost industrial growth

Tuesday, December 24, 2024

India’s steel imports hit record high

Tuesday, December 24, 2024

South Korea's crude steel production declines in November

Monday, December 23, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now