The European Union has sanctioned a €400 million initiative aimed at enhancing Spain’s hydrogen production capabilities.
According to the European Commission, the funds will provide critical support for the installation of 345 megawatts (MW) of electrolyser capacity in Spain. The European Commission’s decision is consistent with its July 2020 hydrogen strategy, which envisages the EU’s total installed hydrogen electrolyser capacity reaching 6,000 MW by 2024.
Spanish industry stakeholders are optimistic yet cautious. A spokesperson from Iberdrola, one of Spain’s largest energy companies, indicated that the investment will significantly position the country as a leader in renewable hydrogen, but emphasized the need for continued policy support to scale the technology.
Engaging with this critical development, the EU is also mindful of the geopolitical landscape. The transition to hydrogen-based energy could reduce Europe’s dependency on imported fossil fuels, thereby enhancing energy security.
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