Spain approves €800m for hydrogen projects

The Spanish government has approved nearly 800 million euros ($865.52 million) in subsidies for hydrogen projects, Energy Minister Teresa Ribera announced on Tuesday.

Spain aims to become a leader in green hydrogen in Europe, leveraging its potential for affordable wind and solar energy.

The 794 million euros will fund seven projects of European interest with a total electrolysis capacity of 652 megawatts. Green hydrogen, produced using renewable energy, is essential for decarbonising Europe’s economy but remains non-competitive without subsidies.

Attribution: Reuters.