European Union Approves €6.9 Billion Support Package

The European Union (EU) has approved EUR 6.9 billion in public support for infrastructure projects aimed at increasing the supply of renewable hydrogen in member states. The EU Commission announced approval of projects to support hydrogen infrastructure jointly prepared by France, Germany, Italy, the Netherlands, Poland, Portugal and Slovakia. In its statement, the Commission noted that member states will provide EUR 6.9 billion in public financing for the project, which is expected to mobilize EUR 5.4 billion in private investment. The statement noted that 32 companies from member states will participate in 33 projects. Under this framework, large-scale electrolyzers will be built to produce renewable hydrogen, pipelines to transport hydrogen, hydrogen storage facilities and terminals will be established. Meanwhile, it is within the mandate of the EU Commission to determine how member states will provide their public support. Member states can use public support only in ways that do not harm competition and in cases consistent with the public interest. Source