Spain aspires to be a “benchmark” for energy that, by 2050, will account for a third of all road transport fuel and 60% of all marine fuel: green hydrogen.
For this reason, the government has now initiated two public consultations to determine which projects would get the 555 million euros in funding planned for this sector.
In the fight to dominate this business, he’s a promising stud. If they invest in renewable hydrogen, all energy firms see significant opportunities to expand as businesses, as well as to create employment, build synergies, and contribute to the energy transition and economic decarbonization.
According to the draft Ministerial Order approving the regulatory bases for granting aid to pioneering renewable hydrogen projects, the aid will be provided on a case-by-case basis “555 million euros, as stated in “Program: 420B Energy Transition. Recovery and Resilience Mechanism” of the Budget by programs and memory of objectives. Volume XIII (Section 23) of the General State Budgets 2022.
The incoming German administration will press the EU to insist that coal be phased out and nuclear power be phased out.
Spain aspires to be a “benchmark” for energy that, by 2050, will account for a third of all road transport fuel and 60% of all marine fuel: green hydrogen. For this reason, the government has now initiated two public consultations to determine which projects would get the 555 million euros in funding planned for this sector.
In the fight to dominate this business, he’s a promising stud. If they invest on renewable hydrogen, all energy firms see significant opportunities to expand as businesses, as well as to create employment, build synergies, and contribute to the energy transition and economic decarbonization.
The aid will be “financed with the budget credit charged to the budget application 23.50. 420B.748 to the IDAE (Institute for Energy Diversification and Saving), that is, 555 million euros, as stated in the “Program: 420B Energy Transition. Recovery and Resilience Mechanism,” according to the draft Ministerial Order approving the regulatory bases for granting aid to pioneering renewable hydrogen projects “Volume XIII (Section 23) of the General State Budgets 2022, of the Budget by Programs and Memory of Objectives.
They will, however, be able to depend on a portion of the $445 million set aside for alternate vehicle departures. The start of what the President of the Government, Pedro Sánchez, declared a year ago: more than 1,500 million euros to construct these projects.
The objective is to reach 4 GW of electrolysis power installed. In 2030, 25% of industrial hydrogen use will come from renewable sources, which will help to build the value chain in our region. That isn’t even taking into account the complete fuel cell mobility development plan.
The second ministerial directive for public input aims to identify help for creative and knowledgeable value-chain initiatives, as well as testing facilities and new production lines.
The maximum duration for resolving the aid will be three months, with a 36-month execution term, according to the draft, “counted from the date of notice of the favorable resolution of the giving of help.”
The time to submit tractor ideas of interest was closed in December of last year, and some of what was presented is already known.
Enagás and Navantia, for example, inked a cooperative agreement to boost national green hydrogen development initiatives. One of them aims to build the Murcia region’s largest renewable hydrogen project, especially in Cartagena and the Escombreras Valley. The goal is to create 25,000 metric tons of renewable hydrogen annually.
The Canary Islands are home to another. It is the Canarian Renewable Hydrogen Hub Cluster initiative, which aims to contribute to the Canary archipelago’s gradual decarbonization. It now has the backing of 20 governmental and private organizations.
Galicia’s plan for the creation of green hydrogen from renewable sources, led by Reganosa, was unveiled. It would be a 50 MW facility with applications in industry, transportation, and injection into the Galician gas pipeline network.
A cluster of 17 companies has been formed in the Valencian Community to attract investments of up to 475 million euros to promote a complete green hydrogen industrial plan aimed specifically at industrial areas in Castellón, because ceramics, one of its economic engines, is already a polluting industry.
EDP, a Portuguese energy firm, proposes to invest 550 million euros in Andalusia to transform its coal plant in Los Barrios (Cádiz) into a green hydrogen generation plant. This conversion would enable for the delivery of renewable energy for Campo de Gibraltar’s whole industrial environment, as well as potential marine export. In Seville, H2inPORT, a port hydrogen ‘center’ for the decarbonization of industrial and urban activities, was unveiled, with a $300 million investment and public-private partnership.
The list goes on and on. Puertollano in Castilla La Mancha aims to be the “center” of green hydrogen in Spain, while the MarCA Cluster in Cantabria is launching a pilot project, Green Hidrogen Cantabria, to establish the area as a leader in industrial decarbonization. Mallorca is also well on its way to becoming Spain’s first green hydrogen supply for the tourism industry, as well as for urban transportation and the cement industry.
The private sector has already begun as the long-awaited help comes. Enagás has proposed a 2,250 million euro investment plan to transform Spain into a European hydrogen exporter, while Iberdrola, Endesa, and Naturgy aim to invest 53,000 million euros in 360 projects.
Caixabank has also confirmed its participation in the European Clean Hydrogen Alliance. According to business statistics, the entity has raised 24,360 million euros in sustainable finance this year, having participated in the issuing of 16 green, sustainable, or social bonds totaling 16,300 million euros.
