In accordance with EU State aid regulations, the European Commission has granted a €220 million grant to assist Cobra Instalaciones y Servicios in producing renewable hydrogen.
By reducing reliance on Russian fossil fuels and advancing the green transition in line with the REPowerEU Plan, the action supports the EU Hydrogen Strategy and European Green Deal ambitions.
The decision made today comes after two Important Projects of Common European Interest (IPCEI, “Hy2Tech” and “Hy2Use”) in the hydrogen value chain received approval in July and September.
Spain chose Cobra’s project from an open call to be a part of an IPCEI on hydrogen technologies and systems, leading to the two IPCEIs that were approved. It was better suited for evaluation under the Guidelines on State Aid for Climate, Environmental Protection and Energy 2022, though, given its traits and goals.