EU to provide €720 million to support hydrogen projects
- Admin
- May 1, 2024
- 1 min read
The European Commission has allocated nearly €720 million to seven renewable hydrogen projects across Finland, Norway, Portugal, and Spain, selected through a competitive auction under the European Hydrogen Bank. These projects aim to produce a total of 1.58 million metric tons of renewable hydrogen over ten years for use in various sectors such as steel, chemicals, and maritime transport. With significant subsidies awarded, these projects signal strong market confidence and are part of a broader initiative to advance net-zero technologies in Europe.
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