{"id":90417,"date":"2024-07-28T06:06:00","date_gmt":"2024-07-28T04:06:00","guid":{"rendered":"https:\/\/thediplomatinspain.com\/?p=90417"},"modified":"2024-07-26T19:39:29","modified_gmt":"2024-07-26T17:39:29","slug":"brussels-approves-1-2-billion-to-support-renewable-hydrogen-production-in-spain","status":"publish","type":"post","link":"https:\/\/thediplomatinspain.com\/en\/2024\/07\/28\/brussels-approves-1-2-billion-to-support-renewable-hydrogen-production-in-spain\/","title":{"rendered":"Brussels approves 1.2 billion to support renewable hydrogen production in Spain"},"content":{"rendered":"\n

Julio Garc\u00eda\/Aqu\u00ed Europa<\/a><\/strong><\/p>\n\n\n\n

The European Commission approved this past Friday a Spanish program of 1.2 billion euros to support investments in the production of renewable hydrogen in order to boost the transition to a net zero emissions economy.<\/strong><\/p>\n\n\n\n

As reported by the Commission, the scheme was approved under the Temporary Crisis and Transition Framework for State Aid (“TCTF”), adopted by the Commission on 9 March 2023 and amended on 20 November 2023 and 2 May 2024.<\/p>\n\n\n\n

The scheme will be fully funded through the Recovery and Resilience Facility (RRF) following the Commission’s positive assessment of Spain’s Recovery and Resilience Plan and its adoption by the Council.<\/p>\n\n\n\n

The scheme will support investments in renewable hydrogen production with an installed capacity of at least 100 MW. Supported investments may cover (i) the production of renewable hydrogen-derived fuels, (ii) the storage of renewable hydrogen and (iii) the production of renewable electricity. To be eligible under the measure, applicants must have signed agreements with off-takers to cover at least 60% of the renewable hydrogen or hydrogen-derived renewable fuel expected to be produced.<\/p>\n\n\n\n

Under the scheme, support will take the form of direct grants covering the investment costs of supported projects. The amount of support for each beneficiary will be determined on the basis of a competitive tendering process.<\/p>\n\n\n\n

Executive Vice-President Margrethe Vestager, responsible for competition policy, said: \u201cThis \u20ac1.2 billion scheme will enable Spain to accelerate the deployment of renewable hydrogen capacities, in line with the EU Hydrogen Strategy and the European Green Deal. The scheme will also help Spain reduce its dependence on imported fossil fuels, while minimising any potential distortion of competition.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Julio Garc\u00eda\/Aqu\u00ed Europa The European Commission approved this past Friday a Spanish program of 1.2 billion euros to support investments in the production of renewable hydrogen in order to boost the transition to a net zero emissions economy. As reported by the Commission, the scheme was approved under the Temporary Crisis and Transition Framework for […]<\/p>\n","protected":false},"author":91,"featured_media":90414,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"The aid will take the form of direct subsidies covering the investment costs of projects with an installed capacity of at least 100 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