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EU's €6.9 billion support for hydrogen investments!

The European Union has approved €6.9 billion in public funding for infrastructure projects to increase the supply of renewable hydrogen in member states.

EU's €6.9 billion support for hydrogen investments!

To increase the supply of renewable hydrogen in member states, the European Union (EU) has approved the provision of 6.9 billion Euros of public support to infrastructure projects for related projects.

The European Commission has approved the hydrogen infrastructure project, in which France, Germany, Italy, the Netherlands, Poland, Portugal and Slovakia are jointly working together. It was reported that 32 companies among these countries will participate in a total of 33 projects and a total of 6.9 billion Euros in financing will be provided. It was reported by the companies that 5.4 billion Euros of the total financing will be used. Within the context of the project, it was announced that large-scale electrolyzers, pipelines to transport hydrogen, hydrogen storage facilities and terminals will be established in this step taken to produce green hydrogen.

It was reported that the public support for the project depends on the EU Commission and member states can only use it in a way that will not damage competition.

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