Around €90 million is set to be injected into green hydrogen projects, predominantly in Portugal’s Centre region. The announcement comes as FI Group Portugal unveiled its support for six applications submitted under the government’s initiative to subsidize green hydrogen production projects.
In a press release, FI Group Portugal highlighted that these six applications would receive a total investment of €90,555,270. This substantial funding represents more than 15% of the selected initiatives earmarked for public funding, emphasizing the pivotal role these projects will play in driving clean energy adoption.
The Centre region of Portugal is poised to be a major beneficiary of this investment, tapping into its potential for fostering projects focused on clean energy production. This move aligns with the nation’s broader ambition to achieve carbon neutrality and promote the energy transition by prioritizing renewable energy sources like hydrogen.
The supported initiatives are integral to the REPowerEU program, a European Commission proposal aimed at bolstering the EU’s energy independence, particularly in response to geopolitical challenges impacting energy supply.
The overarching objective of these projects is to accelerate the journey toward carbon neutrality by emphasizing the production of hydrogen and other renewable gases. Helena Amador, the team leader at FI Group Portugal, emphasized the alignment of these projects with Portugal’s updated National Energy and Climate Plan for 2030, which has raised the green hydrogen production capacity target from 2.5 GW to 5.5 GW.
Amador also underscored the collaborative vision of Portugal and Spain, aiming to establish the Iberian Peninsula as a leader in green hydrogen production within Europe in the long term.
The journey towards a hydrogen-based future involves diverse hydrogen “colors.” Green hydrogen, considered the pinnacle of eco-friendliness, is generated through the electrolysis of water using surplus renewable energy sources. On the spectrum, blue hydrogen, derived mainly from natural gas using steam reforming, presents an alternative while capturing the by-product of carbon dioxide.
Grey hydrogen, produced from natural gas without carbon capture, stands in contrast to the environmentally damaging black and brown hydrogen that relies on coal-based processes. Pink hydrogen, also known as purple or red hydrogen, emerges through electrolysis powered by nuclear energy.
As Portugal advances its green hydrogen projects, the nation is positioning itself at the forefront of the global energy transition, embracing innovative solutions to ensure a sustainable and cleaner future for generations to come.