European Commission approves €1.2bn funding for Spain's renewable hydrogen production to reduce fossil fuel reliance.
The European Commission approved €1.2bn ($1.3bn) funding for Spain's renewable hydrogen production, aiming to establish hydrogen clusters and reduce reliance on imported fossil fuels. The scheme, funded through the Recovery and Resilience Facility, targets investments in hydrogen production facilities with a minimum installed capacity of 100MW, including renewable hydrogen-derived fuels, storage solutions, and renewable electricity generation. The aid will be distributed through a competitive bidding process.
July 28, 2024
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